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How should the following sales transaction be recorded in the sales journal by a business that uses a perpetual inventory system? Made a sale in cash (Invoice#1210)toA. Sander for$800(cost$620) Select one: a. Account: A. Sander; Invoice \#: 1210; Accounts Receivable/Sales: \$800 DR/CR; COGS/Merchandise Inventory: \$620 DR/CR b. The sales journal is not impacted all. c. Account: A. Sander; Invoice \#: 1210; Sales:$800DR; Merchandise Inventory:$800DR d. Account: A. Sander; invoice \#: 1210; Accounts Receivable/Sales:$800DR/CR;COGS/Merchandise inventory:$800DR/CR

How should the following sales transaction be recorded in the sales journal by a business that uses a perpetual inventory system? Made a sale in cash (Invoice#1210)toA. Sander for$800(cost$620) Select one: a. Account: A. Sander; Invoice \#: 1210; Accounts Receivable/Sales: \$800 DR/CR; COGS/Merchandise Inventory: \$620 DR/CR b. The sales journal is not impacted all. c. Account: A. Sander; Invoice \#: 1210; Sales:$800DR; Merchandise Inventory:$800DR d. Account: A. Sander; invoice \#: 1210; Accounts Receivable/Sales:$800DR/CR;COGS/Merchandise inventory:$800DR/CR

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 24MC: Which of the following accounts are used when recording a purchase using a periodic inventory...
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How should the following sales transaction be recorded in the sales journal by a business that uses a perpetual inventory system? Made a sale in cash (Invoice#1210)toA. Sander for$800(cost$620)

Select one:

a. Account: A. Sander; Invoice \#: 1210; Accounts Receivable/Sales: \$800 DR/CR; COGS/Merchandise Inventory: \$620 DR/CR

b. The sales journal is not impacted all.

c. Account: A. Sander; Invoice \#: 1210; Sales:$800DR; Merchandise Inventory:$800DR

d. Account: A. Sander; invoice \#: 1210; Accounts Receivable/Sales:$800DR/CR;COGS/Merchandise inventory:$800DR/CR

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