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Company XYZ purchased inventory costing $100. On February 27th, Company XYZ sold it to a customer on account for $275 dollars. How should XYZ record
Company XYZ purchased inventory costing $100. On February 27th, Company XYZ sold it to a customer on account for $275 dollars. How should XYZ record the sale on February 27th? $175 $175 Inventory Cost of Goods Sold A. Sales Revenue Accounts Receivable $175 $175 $100 $100 Cost of Goods Sold Inventory Accounts Receivable B. Sales Revenue $275 $275 Accounts Receivable Sales Revenue Cost of Goods Sold $275 $175 $100 $275 $275 Cost of Goods Sold Inventory Accounts Receivable Sales Revenue $275 $275
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