The Entries to Record a $5,000 Cash Sale Under a Periodic

question 91

Multiple Choice

The entries to record a $5,000 cash sale under a periodic inventory system, when the cost of the merchandise is $3,200, include a:

• A)debit to Inventory for $5,000.
• B)credit to Sales Revenue for $5,000.
• C)debit to Cost of Goods Sold for $3,200.
• D)debit to Accounts Receivable for $5,000.