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A company that uses the perpetual inventory system sold goods to a customer for cash for $4,800. The cost of the goods sold was $500.

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A company that uses the perpetual inventory system sold goods to a customer for cash for $4,800. The cost of the goods sold was $500. Which of the following journal entries correctly records this transaction? O A. Cost of Goods Sold O B. Merchandise Inventory O C. Cash 4,800 Sales Revenue 4,800 4,800 Sales Revenue 4,800 4,800 4,800 500 4,800 500 Sales Revenue Cost of Goods Sold 500 Merchandise Inventory D. Accounts Receivable 4,800 Cash Cost of Goods Sold 500 Merchandise Inventory

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