On October 4, 2018, Sheffield Corporation had credit sales transactions of $5400 from merchandise having cost $2800. The entries to record the day's credit transactions include a debit of $5400 to Inventory. credit of $2800 to Cost of Goods Sold. credit of $5400 to Sales Revenue. debit of $2800 to Inventory.

Cost of goods sold = $5,400

Sales on credit = $2,800

Date          General Journal           Debit   Credit

Oct. 4        Accounts receivable$5,400

                        Sales revenue                    $5,400

                 (To record sales on credit)

DateGeneral Journal            Debit      Credit

Oct 4       Cost of goods sold     $2,800

                      Inventory                              $2,800

                (To record cost of goods sold)

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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