Marietta Corporation uses a perpetual inventory system. All of its sales are made on account. The company sells merchandise costing $3,000 at a sales price of $4,300. In recording this transaction, Marietta will make all of the following entries except:
A) Credit Sales, $4,300.
B) Credit Inventory, $3,000.
C) Debit Cost of Goods Sold, $3,000.
D) Debit one or more accounts in the inventory subsidiary ledger for amounts totaling $3,000.

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The Answer of Marietta Corporation uses a perpetual inventory system. All of its sales are made on account. The company sells merchandise costing $3,000 at a sales price of $4,300. In recording this transaction, Marietta will make all of the following entries except:
A) Credit Sales, $4,300.
B) Credit Inventory, $3,000.
C) Debit Cost of Goods Sold, $3,000.
D) Debit one or more accounts in the inventory subsidiary ledger for amounts totaling $3,000.

Marietta Corporation Uses a Perpetual Inventory System