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

question 85

Multiple Choice

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

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

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Definitions:

White-Collar Crimes

Offenses committed by individuals, typically in a professional context, involving fraud, embezzlement, or other forms of dishonest or illegal business practices.

Racial Bias

Prejudice or preferential treatment towards individuals based on their race, often manifesting in unfair judgements or actions.

Crime Statistics

Quantitative data that measure crime rates, incidence, types, and trends within a given area.

Anomie

A state of normlessness or a breakdown in the societal norms governing individuals, leading to feelings of alienation and purposelessness.