Hexagon Corporation Sold a Product on Credit for $2,235 to Merin

question 71

Multiple Choice

Hexagon Corporation sold a product on credit for $2,235 to Merin Lynch.The cost of goods sold was $1,324.Assuming the firm is following a perpetual inventory system and using a sales journal,it will record $2,235 in the ________.

• A)Accounts Receivable CR,Sales Revenue DR column
• B)Cost of Goods Sold DR,Merchandise Inventory CR column
• C)Merchandise Inventory DR,Cost of Goods Sold CR column
• D)Accounts Receivable DR,Sales Revenue CR column