A Company That Uses the Perpetual Inventory System Sold Goods $$\begin{array} { | c | l | l | } \hline \text { Accounts receivable } & 3300 & \\\hline \text { Cash } & & 3300 \\\hline\end{array}$$

question 58

Multiple Choice

A company that uses the perpetual inventory system sold goods to a customer for cash for $3300.The cost of the sales was $1300.Which of the following journal entries correctly records this transaction?

• A) \[\begin{array} { | c | l | l | }
• \hline \text { Accounts receivable } & 3300 & \\
• \hline \text { Cash } & & 3300 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | l | l | }
• \hline \text { Cash } & 3300 & \\
• \hline \text { Sales revenue } & & 3300 \\
• \hline
• \end{array}\]
• \[\begin{array} { | c | l | l | }
• \hline \text { Cost of sales } & 1300 & \\
• \hline \text { Inventory } & & 1300 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | l | l | }
• \hline \text { Inventory } & 3300 & \\
• \hline \text { Sales revenue } & & 3300 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | l | l | }
• \hline \text { Cost of sales } & 3300 & \\
• \hline \text { Sales revenue } & & 3300 \\
• \hline
• \end{array}\]

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