1. The journal entries for selling merchandise on account using the perpetual inventory system, for $25,000 with a cost of $15,000 is:

Group of answer choices

JE1:Debit Accounts Receivable/Credit Sales $25,000; JE2: Debit Cost of Goods Sold/ Credit Inventory $15,000

JE1:Debit Accounts Receivable/Credit Sales $25,000; JE2: Debit Cost of Goods Sold/ Credit Accounts Payable $15,000

JE1:Debit Sales/Credit Accounts Receivable $25,000; JE2:Debit Inventory/Credit Cost of Goods Sold $15,000

JE1:Debit Accounts Receivable/ Credit Inventory $25,000; JE2:Debit Inventory/Credit Cost of Goods Sold $15,000

2. The journal entry for cash payment received for the sale in problem 6 within the terms 2/10, net/30 is:

Group of answer choices

Debit Cash 24,500, Debit Sales Discounts $500/Credit Accounts Payable $25,000

Debit Cash 24,500, Debit Sales Discounts $500/Credit Accounts Receivable $25,000

Debit Cash $25,000/ Credit Accounts Receivable $25,000

Debit Accounts Receivable $24,500, Debit Sales Discounts $500/Credit Cash $25,000