Edwards Shoe Store sold shoes that cost the company $5,700 for $8,200. Which of the following journal entries would be required to recognize the cost of goods sold? (Ignore the effects of the associated revenue recognition.) 

Multiple Choice

• A.

  Accounts Titles	Debit	Credit
  Cash	8,200
  Inventory		8,200

B.

• Accounts Titles	Debit	Credit
  Cost of Goods Sold	8,200
  Cash		8,200

• C.

  Accounts Titles	Debit	Credit
  Inventory	5,700
  Cost of Goods Sold		5,700

D,

• Accounts Titles	Debit	Credit
  Cost of Goods Sold	5,700
  Inventory		5,700

Answer rating: 100% (QA)

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