Which of the following journal entries would be required to recognize the cash purchase of $500 of merchandise inventory? Account Titles Debit Credit Inventory 500 Account Titles Debit Credit Cost of Goods Sold Cash 500 Account Titles Debit 500 Credit Inventory Cash 500 Account Titles Debit 500 Cost of Goods Sold Inventory 500 eBook & Resources 4. Which of the tolowing shows the effects of purchasing inventory on account MacBook 30 2 3 4 5 6