Penn sells cameras. On August 1, a customer purchases a camera for $5,700 cash. The camera cost Penn $2,500. Penn uses the perpetual inventory method.
Required: Prepare the necessary entries to record the sale.

Question

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The Answer of Penn sells cameras. On August 1, a customer purchases a camera for $5,700 cash. The camera cost Penn $2,500. Penn uses the perpetual inventory method.
Required: Prepare the necessary entries to record the sale.

Penn Sells Cameras