Coppola Company had sales of $19 million during the year. The goods cost Coppola$ 16 million.

Requirement 1. Give the journal entry or entries at the time of sale under the perpetual and periodic inventory systems. ?(Record debits? first, then credits. Explanations are not required. Enter amounts in millions. Select? "No entry? required" if the inventory system does not require a journal? entry.)

Begin with the perpetual inventory system. Prepare the entry to record the sales revenue using the perpetual inventory system. ?(Assume all sales are credit? sales.)??

Now record the entries at the time of sale under the periodic inventory system.

?First, prepare the entry to record the sales revenue using the periodic inventory system. ?(Assume all sales are credit? sales.)?

Perpetual (In millions) Date Accounts Debit Credit Prepare the entry to related to the inventory cost (if required) using the perpetual inventory system Perpetual (In millions) Date Accounts Debit Credit