Current Attempt in Progress Ina perpetual system assuming the company uses the caring approach for revenue recognition, the required entrylles) to record the sale of merchandise for $1050 on credit for goods costing the company 5540 would include Bladebit to cost of Good Son credit to Merchandisentory for $640 O debetto Arcounts Receivable and credit to Merchande inventory for $1050 Oddebit to Accounts Receivable and credit to Sales for $1050 od beth and