Claremore company received $7,000 as payment from tulsa company for a sale made on account in the previous month. which of the following is the journal entry the company should record? a. cash 7,000 accounts receivable 7,000 b. cash 7,000 fees earned 7,000 c. accounts receivable 7,000 cash 7,000 d. accounts receivable 7,000 fees earned 7,000

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.