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Question 18 3 pts On January 12, Chirp Corp sold merchandise in the amount of $5,800 to Seeds and Company, with credit terms of
Question 18 3 pts On January 12, Chirp Corp sold merchandise in the amount of $5,800 to Seeds and Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Chirp Corp uses the perpetual inventory system. The journal entry or entries that Chirp Corp will make on September 12 is: Sales Accounts receivable Cost of goods sold Merchandise Inventory 1 Accounts receivable Sales 5,800 4,000 4,000 Accounts receivable 5,800 Sales Cost of goods sold Merchandise Inventory: O Sales Accounts receivable 4,000 5,800 5,800 4,000 4,000 5,800 4,000 5,800
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