Chastain Company sold jobs with a total cost of $105,000. The selling price was $160,000. The journal entry to record this transaction is debit Accounts Receivable $105,000; credit sales $105,000; and debit Cost of Goods sold $160,000; credit Finished Goods Inventory $160,000 debit Sales $160,000; credit Accounts Receivable $160,000; and debit Finished Goods Inventory $105,000; credit Cost of Goods sold $105,000 debit Accounts Receivable $160,000; credit Sales $160,000; and debit Cost of Goods Sold $105,000; credit Finished Goods Inventory $105,000 debit Sales $105,000; credit Accounts Receivable $105,000; and debit Finished Goods Inventory $160,000; credit Cost of Goods Sold $160,000