Merchandise was purchased for $2,000 and sold to customers for $5,000. The entry to update the inventory records after this sale will include which of the following under the perpetual inventory system (Ignore GST)?

Select one:

a.

Debit to inventory for $3,000

b.

Credit to inventory for $2,000

c.

Debit to inventory for $2,000

d.

Credit to inventory for $3,000