On June 21 Jensen sold merchandise to Woodland Company for $7,500 on account. The merchandise had a cost of $3,800. Which of the following are the journal entries Jensen Corporation should record for this sale? Assume Jensen uses a perpetual inventory system.

Question 21 options:

	Debit: Accounts Receivable 3,800 Credit: Sales Revenue 3,800 Debit: Cost of Goods Sold 7,500 Credit: Inventory 7,500
	Debit: Sales Revenue 7,500 Credit: Accounts Receivable 7,500 Debit: Cost of Goods Sold 3,800 Credit: Inventory 3,800
	Debit: Accounts Receivable 7,500 Credit: Sales Revenue 7,500 Debit: Inventory 3,800 Credit: Cost of Good Sold 3,800
	Debit: Accounts Receivable 7,500 Credit: Sales Revenue 7,500 Debit: Cost of Goods Sold 3,800 Credit: Inventory 3,800