A Company That Uses the Perpetual Inventory System Sold Goods $$\begin{array} { | c | r | r | } \hline \text { Cost of Goods Sold } & 3,000 & \\\hline \text { Sales Revenue } & & 3,000 \\\hline\end{array}$$

question 121

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?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Cost of Goods Sold } & 3,000 & \\
• \hline \text { Sales Revenue } & & 3,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Cash} & 3,000 & \\
• \hline \text { Sales Revenue } & & 3,000 \\
• \hline
• \end{array}\]
• \[\begin{array} { | c | r | r | }
• \hline \text { Cost of Goods Sold } & 1,000 & \\
• \hline \text { Merchandise Inventory } & & 1,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Receivable } & 3,000 & \\
• \hline \text { Cash } & & 3,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Merchandise Inventory } & 3,000 & \\
• \hline \text { Sales Revenue} & & 3,000 \\
• \hline
• \end{array}\]

Illustrate how brain structure is related to function through examples of brain injuries and their effects.

Acknowledge the variability and complexity of brain function through the examination of different neurological conditions.

Understand the anatomical distinctions and functional significance of various lobes of the brain and their association areas.

Understand the concept of market equilibrium and how shifts in supply and demand affect equilibrium price and quantity.

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