A company that uses the perpetual inventory system sold goods to a customer on account for $4,000. The cost of the goods sold was $2,000. Which of the following journal entries correctly records this transaction? 
Definitions:
Purchasing Power
The purchasing power of a currency, showing the quantity of goods or services one unit can acquire.
Nominal Interest Rate
The interest rate before adjustments for inflation, representing the face value of financial transactions.
Real Interest Rate
The interest rate adjusted for inflation, representing the true cost of borrowing and the true yield on savings.
Inflation Rate
The percent change in the price level of goods and services in an economy over a period of time, typically measured annually.
Q8: Cash disbursement journals also are known as
Q54: The ending inventory of a company was
Q54: Under the perpetual inventory system, when a
Q56: Centium Corporation sold goods to John Dunn
Q87: When using the weighted-average inventory costing method
Q97: A company received a bank statement with
Q105: Net income is entered as the balancing
Q112: In a period of rising costs, the
Q150: Grabbe Enterprises uses the allowance method to
Q165: Up-to-date Merchandisers has the following transactions for