Use the Following Information for Questions

Multiple Choice

Use the following information for questions

-Assuming Chu uses a perpetual inventory system, which entry would have been made to account for the April 1 sale?

A) Debit: "Cost of goods sold" and Credit: "Inventory" $350
B) Debit: "Cost of goods sold" and Credit: "Purchases" $350
C) Debit: "Cost of goods sold" and Credit: "Purchases" $314
D) Debit: "Cost of goods sold" and Credit: "Inventory" $314