A company sold merchandise with a cost of $7,200 for $12,000 on account. The seller uses the perpetual inventory system. The entry to record the sale would be: A. Cash 12,000 Sales Revenue 12,000 Cost of Goods Sold 7,200 Merchandise Inventory 7,200 B. Sales Revenues 12,000 Merchandise Inventory 12,000 Cash 7,200 Cost of Goods Sold 7,200 OC. Accounts Receivable 12,000 Sales Revenue 12,000 Cost of Goods Sold 7,200 Merchandise Inventory 7,200 D. Cash 12,000 Sales Revenue 12,000 Merchandise Inventory 7,200 Cost of Goods Sold 7,200