MerchCo sells 50 wrenches for $30 each on account, terms 2/10 n 30 and COGS is $11 each debit AR $1500, credit Sales Revenue $1500; debit COGS $550, credit Inventory $550 O debit AP $1500, credit Sales Revenue $1500; debit COGS $550, credit Invebtory $550 O debit Sales Revenue $1500, credit AR $1500; debit COGS $550, credit Inventory $550 debit cash $1500, credit Sales Revenue $1500; debit COGS $500, credit Inventory $500 O debit AR $1500, credit Sales Revenue $1500; debit Inventory $550, credit COGS $550