Question

g Klein uses the perpetual inventory system and the gross method of accounting for sales. The journal entry or entries that Klein will make on March 12 is (are):

Answer 1

Note: The complete question is attached as picture below

Date Account Titles and Explanation Debit Credit

12-Mar Accounts receivable $7,800

Sales $7,800

(To record the sales on account)

12-Mar Cost of goods sold $4,500

Inventory $4,500

(To record the cost of goods sold)