Record an $80 purchase of inventory on account. Cost of shipping was $5.

A $400 sale of $70 goods is made on account.

Record an $80 purchase of inventory on account. Cost of shipping was $5. Debit Credit Question 11 2 pts For this series of transactions, journalize and identify account type as nominal/real. A $400 sale of $70 goods is made on account. Sale: Account. Amount Nominal/Real Debit Cost of Goods Sold 70 Credit Inventory 70 Cost of sale: Account. Amount Nominal/Real Debit 400 Account Receiable Revenue 400 Credit