If a Company Uses a Periodic Inventory System, Which of the Following

question 135

Multiple Choice

If a company uses a periodic inventory system, which of the following entries is required to record the sale of merchandise on credit?

• A) \(\begin{array} { | c | }
• \hline \text { Accounts Receivable } \\
• \hline \text { Sales Revenue } \\
• \hline
• \end{array}\)
• B) \(\begin{array} { | c | }
• \hline \text {Purchases } \\
• \hline \text { Cost of Goods Sold } \\
• \hline
• \end{array}\)
• C) \(\begin{array} { | r | }
• \hline \text { Cost of Goods Sold } \\
• \hline \text { Purchases } \\
• \hline
• \end{array}\)
• D) \(\begin{array} { | c | }
• \hline \text { Accounts Payable } \\
• \hline \text { Sales Revenue } \\
• \hline
• \end{array}\)

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