Determine the appropriate account to for the journal entry for the month of May by placing the appropriate identification number(s) in the debit o credit column provided for each item. The company uses a perpetual inventory system.

1.	Cash	5.	Supplies	9.	Sales Discounts
2.	Accounts Receivable	6.	Land	10.	Sales Revenue
3.	Notes Receivable	7.	Accounts Payable	11.	Cost of Goods Sold
4.	Inventory	8.	Sales Returns and Allowances	12.	Freight-Out

Group of answer choices

Sold merchandise with a cost of $250 for cash of $450, terms net 30 The account to be credited for $450 is:

[ Choose ] Inventory Sales Returns and Allowances Cost of Goods Sold Accounts Payable Cash Sales Revenue

Sold merchandise with a cost of $250 for cash of $450, terms net 30. The account to be credited for $250 is:

[ Choose ] Inventory Sales Returns and Allowances Cost of Goods Sold Accounts Payable Cash Sales Revenue

Purchased merchandise from Supplier, Inc. on account for $2,000, terms 2/10, n/30. The account to be debited is:

[ Choose ] Inventory Sales Returns and Allowances Cost of Goods Sold Accounts Payable Cash Sales Revenue

Returned $500 of merchandise that had been purchased from Supplier, Inc. The account to be credited is:

[ Choose ] Inventory Sales Returns and Allowances Cost of Goods Sold Accounts Payable Cash Sales Revenue

Sold merchandise costing $550 to Bike World for $900 on account, terms 2/10, n/30. Bike World will pay $40 freight costs per the shipping terms. The account to be debited for $550 is :

[ Choose ] Inventory Sales Returns and Allowances Cost of Goods Sold Accounts Payable Cash Sales Revenue

Accepted a return of merchandise from Bike World. Granted a credit on account of $100. The account to be debited for $100 is:

[ Choose ] Inventory Sales Returns and Allowances Cost of Goods Sold Accounts Payable Cash Sales Revenue

Purchased merchandise from AB Supply on account for $1,600; terms 1/10, n/30 The account to be credited for $1,600 is:

[ Choose ] Inventory Sales Returns and Allowances Cost of Goods Sold Accounts Payable Cash Sales Revenue

Paid freight of $90 on the shipment from Supplier, Inc. per the shipping terms of the purchase. The account to be credited for $90 is: