4 Not yet answered Marked out of 1.00 Flag question Accrued expenses affect on the balance sheet. Select one: a. prepaid expenses b. assets O c. liabilities Od. fixed assets Question 23 ot yet answered Marked out of 1.00 Flag question Cumberland Co. sells $2,000 of merchandise to Hancock Co. for cash. Cumberland paid $1,250 for the merchandise. Under a perpetual inventory system, which of the following is the correct journal entry(ies)? Select one: a. debit Cash, $2,000; credit Merchandise Inventory, $2,000 O b. debit Cash, $1,250; credit Sales, $1,250 C. debit Cash, $2,000; credit Sales, $2,000; and debit Cost of Merchandise Sold, $1,250; credit Merchandise Inventory, $1,250 d. debit Accounts Receivable, $2,000; credit Sales, $2,000; and debit Cost of Merchandise Sold, $1,250; credit Merchandise Inventory, $1,250