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A company that uses the perpetual inventory system sold goods to a customer on account for $2,600. The cost of the goods sold was
A company that uses the perpetual inventory system sold goods to a customer on account for $2,600. The cost of the goods sold was $1,300. Which of the following journal entries correctly records this transaction? OA. Merchandise Inventory 2,600 Cost of Goods Sold 2,600 OB. Accounts Receivable 2,600 Sales Revenue 2,600 Cost of Goods Sold 1.300
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