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On July 10, ABC Company sold merchandise in the amount of $7,500 to XYZ Company, with credit terms of 2/10, n/60. The cost of the
On July 10, ABC Company sold merchandise in the amount of $7,500 to XYZ Company, with credit terms of 2/10, n/60. The cost of the items sold is $3,000. What is the journal entry(s) to be recorded on July 10? OA Sales 7,500 Accounts receivable 7,500 B. Accounts receivable 7,500 Merchandise Inventory 7,500 Cost of goods sold 3,000 Sales 3,000 OD. Accounts receivable Sales. Cost of goods sold 3,000 7,500 7,500 Merchandise inventory 3,000 Accounts receivable sales 7,500 7,500
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