In recording the cost of merchandise sold for cash, based on data available from perpetual inventory records, the journal entry is a Oa. debit to Accounts Receivable and a credit to Merchandise Inventory b. debit to Merchandise Inventory and a credit to Cost of Merchandise Sold Oc. debit to Cost of Merchandise Sold and a credit to Sales Od. debit to Cost of Merchandise Sold and a credit to Merchandise Inventory