Using a perpetual inventory system,what journal entry(ies) is(are) prepared when two units of merchandise are sold on account?
A) debit Accounts Receivable and credit Sales Revenue only
B) debit Cash and credit Sales Revenue only
C) debit Accounts Receivable and credit Sales Revenue; debit Cost of Goods Sold and credit Inventory
D) debit Accounts Receivable and credit Sales Revenue; debit Inventory and credit Cost of Goods Sold
Correct Answer:
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