In a periodic inventory system,recording a sale on account involves debiting which of the following accounts?
A)Only Accounts Receivable.
B)Accounts Receivable and Inventory.
C)Accounts Receivable and Cost of Goods Sold.
D)Accounts Receivable,Cost of Goods Sold,and Inventory.

Question

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In a periodic inventory system, recording a sale on account involves debiting only the Accounts Receivable account to recognize the receivable from the customer. The cost of goods sold and inventory adjustments are made periodically, not at the time of each sale.

In a Periodic Inventory System,recording a Sale on Account Involves