QUESTION 16 Your company, which uses the perpetual method, sells inventory on account for $15,000. If the cost of the inventory is $9,000, you will O credit Inventory for $9,000 O debit COGS for $9,000 O credit Sales Revenue for $15,000 O debit Account Receivable for $15,000 O all of the above QUESTION 17 ABC Company purchased $10,000 of merchandise on account from XYZ Company, terms are 3/10, n/30, FOB shipping point. If both companies use a periodic inventory system, which company records the transportation, and which account is debited to record the amount of the transportation? XYZ records with a debit to Delivery Expense XYZ records with a debit to Freight-In ABC records with a debit to Freight-In XYZ records with a debit to Merchandise Inventory ABC records with a debit to Merchandise Inventory ABC records with a debit to Delivery Expense