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Business, 18.12.2020 21:40 ginger87771
Landon Jewelers uses the perpetual inventory system. On April 2, Landon sold merchandise with a cost of $3,500 for $7,000 to a customer on account with terms of 3/15, n/30. The journal entry to record the cost of goods sold would be:
A.
Merchandise Inventory
3,500
Cost of Goods Sold
3,500
B.
Sales Revenue
3,500
Cost of Goods Sold
3,500
C.
Cost of Goods Sold
3,500
Merchandise Inventory
3,500
D.
Cost of Goods Sold
3,500
Accounts Receivable
3,500
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