You are a production planner for stanley tools. stanley tools faces an annual demand of 1,000 screws. production rate is 8 screw
1 answer:
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Answer:
Cash Account (debit) 1,000
Cash in Bank Account (Credit) 1,000
Explanation:
Given
Required
Write a journal entry
In this case:
The company deposits $1000.
This means that, $1000 will be debited from the company's cash account.
So, the entry for that will be:
Cash Account (debit) 1,000
In the same vein, $1000 will be credited into the company's bank account.
So, the entry for that will be:
Cash in Bank Account (Credit) 1,000