High Interest Investment

What is the basic Journal Entry for Cost of Good Sold and Investment/Stock & Bond?

What is the JE for COGS and Stock and Bonds Investment?

Public Comments

1. Very basic JE Debit: Cash 10000 Credit: Sales 10000 Debit: COGS 5000 Credit: Inventory 5000 Debit: Investment 50000 Credit: Cash 50000
2. cost of good sold isn't a journal entry. it is the result of: opening inventory (you have to do a count) PLUS purchases during the year MINUS closing inventory (you have to do a count) this neglects things like theft or 'shrinkage' and 'returns from customers' but it gives you the basic idea