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View Policies Current Attempt in Progress To record the sale of merchandise which cost $45,000 for cash of $85,000, the following journal entrylies) are required

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View Policies Current Attempt in Progress To record the sale of merchandise which cost $45,000 for cash of $85,000, the following journal entrylies) are required in a perpetual inventory system: O first entry: debit Cash, $45,000; credit Sales, $45,000 and second entry:debit Cost of Goods Sold, $45,000 credit Inventory, $45,000. O first entry: debit Cash, $85,000; credit Sales. $85,000 and second entry: debit Cost of Goods Sold, 545,000 credit Inventory, $45,000 debit Cash, $45.000; credit Inventory. $45.000. debit Cash, $85.000;credit Sales. $85,000

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