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Our company uses a perpetual inventory system. On July 3, we sold merchandise with a cost of $3,000 for $6,500 to a customer on account.
Our company uses a perpetual inventory system. On July 3, we sold merchandise with a cost of $3,000 for $6,500 to a customer on account. The terms of the sale were 2/10, n/30. What account and amount would we debit to record the sales revenue for this transaction? sales revenue, $6,500 O merchandise inventory, $3,000 O cost of goods sold, $3,000 O accounts receivable, $6,500 Question 19 Our company uses a perpetual inventory system. On July 3, we sold merchandise with a cost of $3,300 for $6,600 to a customer on account. The terms of the sale were 2/10, n/30. What account and amount would we credit to record the cost of goods sold for this transaction? sales revenue, $6,600 accounts receivable, $6,600 cost of goods sold, $3,300 1 pts merchandise inventory, $3,300
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