On 7/1/20, World Series Inc. sold inventory for $500 (the cost of the inventory sold is $250); all the sales were on credit. Below, please record separately the sales revenue and the cost of inventory expense that is associated with this transaction (in respective tables).

Please fill out these boxes:

for ALL of these boxes, you can choose - which indicates that none of the answers are applicable

Sales Revenue part of the transaction:

cash asset box: -500, -250, 250, 500

Non-cash assets box 1: -500, -250, 250, 500

Non-cash assets box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

Liabilities box 1: -500, -250, 250, 500

Liabilities box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

contrib capital box 1: -500, -250, 250, 500

contrib capital box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

earned capital box 1:-500, -250, 250, 500

earned capital box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

revenues box 1: 250 or 500

revenues box 2: Accounts payable, COGS, Sales revenue, retained earnings

expenses box 1: 250 or 500

expenses box 2: Accounts payable, COGS, Sales revenue, retained earnings

net income: -500, -250, 250, 500

Inventory Expense part of the transaction:

cash asset box: -500, -250, 250, 500

Non-cash assets box 1: -500, -250, 250, 500

Non-cash assets box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

Liabilities box 1: -500, -250, 250, 500

Liabilities box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

contrib capital box 1: -500, -250, 250, 500

contrib capital box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

earned capital box 1:-500, -250, 250, 500

earned capital box 2: Accounts payable, Accounts receivable, COGS, Inventory, retained earnings

revenues box 1: 250 or 500

revenues box 2: Accounts payable, COGS, Sales revenue, retained earnings

expenses box 1: 250 or 500

expenses box 2: Accounts payable, COGS, Sales revenue, retained earnings

net income: -500, -250, 250, 500

On 7/1/20, World Series Inc. sold inventory for $500 (the cost of the inventory sold is $250 ); all the sales were on credit. Below, please record separately the sales revenue and the cost of inventory expense that is associated with this transaction (in respective tables). Sales Revenue part of the transaction: Inventory Expense part of the transaction: Inventory Expense part of the transaction