Multiple Choice
In a periodic inventory system, the entry to record the sale of $2,000 of merchandise on account with a cost of $1,400 would include a:
A) credit to Accounts Receivable for $1,400.
B) debit to Accounts Receivable for $2,000.
C) debit to Cost of Goods Sold for $2,000.
D) credit to Inventory for $1,400.
Correct Answer:
Verified
Correct Answer:
Verified
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