On October 4, 2014, JT Corporation had credit sales transactions of $4,000 from merchandise having cost $2,400. The entries to record the day's credit transactions include a a. debit of $4,000 to Inventory. b. credit of $4,000 to Sales Revenue. c. debit of $2,400 to Inventory. d. credit of $2,400 to Cost of Goods Sold. 16. Which of the following accounts is not closed to Income Summary? a. Cost of Goods Sold b. Inventory c. Sales Revenue d. Sales Discounts