Natchitoches---about an hour away from Shreveport Louisiana is the State's oldest city. New Orleans follows, and Opelousas Louisiana is the 3rd oldest.
Cost of Goods Sold Sexton Corp. has current... (Solved) January 23, 2017. Cost of Goods Sold Sexton Corp . has current liabilities of $325,000, a quick ratio of 0.85, inventory turnover of 9.5, and a... Lambda Corporation has current liabilities of $450,000, a quick (Solved) April 18, 2013.
The cost of goods has a debit balance. When you sell merchandise, you make the following entries: Debit Cash (or A/R) ___Credit revenue Debit cost of goods sold __Credit inventory The cost of goods sold goes on the income statement.Sean Roberts Â· 5 years ago.Thumbs up.he cost of goods has a debit balance. When you sell merchandise, you make the following entries: Debit Cash (or A/R) ___Credit revenue Debit cost of goods sold __Credit inventory The cost of goods sold goes on the income statement. Sean Roberts Â· 5 years ago. Thumbs up.