A company that uses the perpetual inventory system sold goods to a customer on account for $4,000. The cost of the goods sold was $2,000. Which of the following journal entries correctly records this transaction? OA. Accounts Receivable Sales Revenue Costs of Goods Sold Merchandise Inventory OB. Cost of Goods Sold Sales Revenue C. Accounts Receivable Cash Costs of Goods Sold Merchandise Inventory OD. Merchandise Inventory Costs of Goods ... 4,000 2,000 4,000 4,000 2,000 4,000 4,000 2,000 4,000 4,000 2,000 4,000

A company that uses the perpetual inventory system sold goods to a customer on account for $4,000. The cost of the goods sold was $2,000. Which of the following journal entries correctly records this transaction? OA. Accounts Receivable Sales Revenue Costs of Goods Sold Merchandise Inventory OB. Cost of Goods Sold Sales Revenue C. Accounts Receivable Cash Costs of Goods Sold Merchandise Inventory OD. Merchandise Inventory Costs of Goods ... 4,000 2,000 4,000 4,000 2,000 4,000 4,000 2,000 4,000 4,000 2,000 4,000

Name: A-3 A company that uses the perpetual inventory system sold goods to a
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Description: A-3 A company that uses the perpetual inventory system sold goods to a customer on account for$4,000. The cost of the goods sold was $2,000. Which of the following journal entries correctlyrecords this transaction?O A. Accounts ReceivableSales Revenu

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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