Answer:
Clemens Cars’s Journal entry
1.
Dr Finished goods inventory $11,000
Cr Work in process inventory $11,000
2.
Dr Cost of goods sold $11,000
Cr Finished goods inventory $11,000
3.
Dr Cash $15,700
Cr Sales revenue $15,700
Explanation:
Based on the information given above in which Clemens Cars’s job cost sheet shows that the cost to add security features to a car was $11,000 which means we have to record cost of completed jobs to FG by Debiting Finished goods inventory with $11,000 and Crediting Work in process inventory with the same amount and as well record cost of goods sold by debiting Cost of goods sold with $11,000 and crediting Finished goods inventory with the same amount.
Since the car was delivered to the customer, who paid $15,700 in cash for the added features which means we have to record sale price of job by Debiting Cash with $15,700 and Crediting Sales revenue with the same amount.
