Business, 05.11.2020 19:00, adeanbates

A company sold merchandise with a cost of $217 for $390 on account. The seller uses the perpetual inventory system. The entry to record the cost of merchandise sold would include . A. a debit to Merchandise Inventory for $231 and a credit to Cost of Goods Sold for $231
B. a debit to Cash and a credit to Sales Revenue for $480
C. a debit to Sales Revenue and a credit to Cash for $480
D. a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $231

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A company sold merchandise with a cost of $217 for $390 on account. The seller uses the perpetual in...