19 4 pts 137) Using a perpetual inventory system, how should a company record the sale of inventory costing $620 for $960 on account? 1. Inventory Cost of Goods Sold Sales Revenue Accounts Receivable 620 960 2. Accounts Receivable 960 Sales Revenue Cost of Goods Sold 620 Inventory 3. Inventory Gain Sales Revenue 620 340 620 960 960 620 960 Accounts Receivable 2. Accounts Receivable 960 Sales Revenue Cost of Goods Sold 620 Inventory 3. Inventory Gain Sales Revenue 620 340 4. Accounts Receivable 960 Sales Revenues 4 1 O 3 O 2 Gain 960 960 620 960 620 340 D Question 20 4 pts 70) On July 8, Ray Inc. sold 100 printers to Office Rental Company at $600 each and offered a 2% discount for payment within 10 days. On July 15, Office Rental Company paid the full amount in cash. What should Ray Inc. record on July 15? A. Cash Accounts Receivable B. Cash Accounts Receivable C. Cash Sales Discounts Accounts Receivable D. Cash Sales Discounts 60,000 58,800 58,800 1,200 60,000 60,000 58,800 60,000 1,200 A. Cash Accounts Receivable B. Cash Accounts Receivable C. Cash Sales Discounts Accounts Receivable D. Cash OB OD Sales Discounts 60,000 58,800 58,800 1,200 60,000 60,000 58,800 60,000 1,200 Sales Revenue 58,800 Question 19 4 pts 137) Using a perpetual inventory system, how should a company record the sale of inventory costing $620 for $960 on account? 1. Inventory Cost of Goods Sold Sales Revenue Accounts Receivable 620 960 2. Accounts Receivable 960 Sales Revenue Cost of Goods Sold 620 Inventory 3. Inventory Gain Sales Revenue 620 340 620 960 960 620 960