During March, Zea Incorporated transferred $70,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $76,000. The journal entries to record these transactions would include a:

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During March, Zea Incorporated transferred $70,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $76,000. The journal entries to record these transactions would include a:

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Topeadeniran2go Topeadeniran2go · Answer 1

The journal entry that can be used to record these transactions will be credit to finished goods of $67,000.

What is a journal entry?

A journal entry is simply used to record a business transaction in the accounting records of a business.

Since the company transferred $70,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $76,000, the journal entry that can be used to record these transactions will be credit to finished goods of $67,000.

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