The Corbit Corp

The Corbit Corp. sold merchandise for $10,000 cash. The cost of the merchandise sold was $7,590. The journal entries to record this transaction under the perpetual inventory system would be

A) Cash 10,000 Merchandise Inventory 10,000
Cost of Merchandise Sold Sales
7,590
7,590
B) Cash Sales
10,000
10,000
Cost of Merchandise Sold Merchandise Inventory
7,590
7,590
C) Cash Sales
10,000
10,000
Cost of Merchandise Sold Merchandise Inventory
10,000
10,000
D) Cash Sales
7,590
7,590
Cost of Merchandise Sold 7,590 Merchandise Inventory 7,590