On July 24, Barkdull Inc

Multiple Choice

On July 24, Barkdull Inc. purchased $4,000 of inventory on account. On August 3, Barkdull, sold $2,000 of inventory for $1,000 cash and $2,000 on credit. The correct entry by Barkdull Inc. to record the sale of inventory or August 3 is

A) Cash 3,000
Sales Revenue 3,000
Cost of Goods Sold 2,000
Inventory 2,000
B) Cash 1,000
Accounts Receivable 2,000
Sales Revenue 3,000
Cost of Goods Sold 2,000
Inventory 2,000
C) Cost of Goods Sold 3,000
Sales Revenue 3,000
Accounts Receivable 2,000
Inventory 2,000
D) Cash 1,000
Accounts Receivable 2,000
Inventory 3,000
Cost of Goods Sold 2,000
Sales Revenue 2,000