Question

Using a perpetual inventory system, the seller’s journal entry to record the sale of merchandise on account includes a:

Answer 1

C. Debit to Accounts Receivable

Step-by-step explanation:

Options Includes "A. Credit to Cost of Goods Sold, B. Debit to Inventory, C. Debit to Accounts Receivable, D. Credit to Purchases"

The journal entries prepared by the seller to record the sale of merchandise on account includes a debit to accounts receivable and credit to sales revenue for the invoice amount of the sale, and a debit to cost of goods sold and credit to inventory for the cost of the sales.