15 A company uses the perpetual inventory method. Which of the following entries would be made to record a $1,200 sale of merchandise on account? The merchandise cost the company $800. The accounting entry would be a $1,200 debit to Cost of goods sold and a $1,200 credit to Sales revenue. O The accounting entry would be a $800 debit to Cost of goods sold and a $800 credit to Merchandise Inventory. O The accounting entry would be a $1,200 debit to Accounts receivable and a $1,200 credit to Sales revenue. Both B and C would be necessary to record the sale. QUESTION 16 A company sells merchandise for $1,000 on account with terms of 2/10 net/30. Which of the following entries would be made to record the cash receipt for the sale if the payment is received within 10 days? O The accounting entry would be an $1,000 debit to Cash and an $1,000 credit to Accounts receivable. O The accounting entry would be a $980 debit to Cash and an $980 credit to Accounts receivable. The accounting entry would be a $20 debit to Sales discounts, a $980 debit to Cash and an $1,000 credit to Accounts receivable. O The accounting entry would be an $1.000 debit to Cash, a $20 credit to Sales discounts and a $980 credit to Accounts receivable