A Company That Uses the Perpetual Inventory System Sold Goods

question 31

Multiple Choice

A company that uses the perpetual inventory system sold goods to a customer for cash for $3,000. The cost of the goods sold was $1,000. Which of the following journal entries correctly records this transaction?

---

Definitions:

Selective Attention

The cognitive process of focusing on a particular object in the environment for a certain period while ignoring others; it is a mechanism of information processing.

Identical Genes

A term that refers to having exactly the same DNA sequence in a particular gene across different individuals, typically seen in monozygotic (identical) twins.

Twins

Twins are two offspring produced by the same pregnancy, which can be identical (from one egg) or fraternal (from two different eggs).

Schizophrenia

Schizophrenia is a chronic and severe mental disorder that affects how a person thinks, feels, and behaves, characterized by delusions, hallucinations, and disorganized thinking.