Dr | Cr. | Value | |||
Purchase Inv. Item | |||||
Rec. Item & Vendor Bill | Inv. Asset | A/P | Cost | ||
Pay Bill | A/P | Cash | Cost | ||
Sell Inv. Item* | |||||
Invoice Customer | COGS | Inv. Asset | Cost | ||
A/R | Income | Sell | |||
Rec. Customer Pmt. | Cash | A/R | Sell | ||
*Gross Profit=Sell minus Cost (calculation only) | |||||
