Under a Perpetual Inventory System, When a Sale Is Made

question 40

Multiple Choice

Under a perpetual inventory system, when a sale is made, the company:

• A) makes a journal entry to record the sale only.
• B) makes a journal entry to record only the cost of goods sold.
• C) makes a journal entry to record the sale and the cost of goods sold.
• D) does not need to make a journal entry.

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Definitions:

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