A company sold inventory that cost $1,300 for $2,000. It received $500 cash and the remainder was on account. What is included in the journal entry or entries necessary to record this sale of inventory?

1. Debit to sales for $1,300

2. Debit to A/P for $1,500

3. Debit to A/R for $1,500

4. Credit to COGS for $1,300

please explain why. I am having trouble understanding credits and debits.