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Question 14 (3 points) A company that uses the perpetual inventory system purchased 500 pallets of industrial soap for $8,000 and paid $900 for the
Question 14 (3 points) A company that uses the perpetual inventory system purchased 500 pallets of industrial soap for $8,000 and paid $900 for the freight-in. The company sold the whole lot to a supermarket chain for $13,000 on account. Which of the following entries correctly records the sale? ob Accounts Receivable 13,000 Sales Revenue 13,000 Cost of Goods Sold 8,000 Merchandise Inventory 8,000 Merchandise Inventory 13,000 Cost of Goods Sold 13,000 Accounts Receivable 13,000 Sales Revenue 13,000 Cost of Goods Sold 8,900 Merchandise Inventory 8,900 Cost of Goods Sold 13,000 Sales Revenue 13,000 od
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