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Using a perpetual inventory system, the journal entries required to record a sale on account will include credits to: Cost of Goods Sold and Merchandise
Using a perpetual inventory system, the journal entries required to record a sale on account will include credits to:
Cost of Goods Sold and Merchandise Inventory.
Cost of Goods Sold and Sales.
Sales and Merchandise Inventory.
Accounts Receivable and Cost of Goods Sold.
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