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TB MC Qu . 6 - 1 4 3 ( Algo ) Using a perpetual inventory system, how... Using a perpetual inventory system, how should

TB MC Qu.6-143(Algo) Using a perpetual inventory system, how...
Using a perpetual inventory system, how should a company record the sale of inventory costing $520 for $940 on account?
EventAccount TitleDebitCredit1.Inventory5201.Cost of Goods Sold5201.Sales Revenue9401.Accounts Receivable9402.Accounts Receivable9402.Sales Revenue9402.Cost of Goods Sold5202.Inventory5203.Inventory5203.Gain4203.Sales Revenue9404.Accounts Receivable9404.Sales Revenues5204.Gain420

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