ABC Company sells inventory costing $$500$ for $$980$ on account. Assuming ABC uses a perpetual inventory system, which of the following journal entries correctly account for this transaction?

None of these is correct.

Debit Accounts Receivable for $$980$; Credit Sales Revenue for $$980$

Debit Cost of Goods Sold for $$500$; Credit Inventory for $$500$

Debit Accounts Receivable for $$980$; Credit Sales Revenue for $$980$

Debit Inventory for $$500$; Credit Cost of Goods Sold for $$500$

Debit Sales Revenue for $$980$; Credit Accounts Receivable for $$980$

Debit Cost of Goods Sold for $$500$; Credit Inventory for $$500$