In perpetual inventory system we learned from class, if the business sell inventory $7,800 to APC Ltd on account, the cost is $3,500, the accounting entry for this will be A Dr COGS 3,500 Cr Inventory 3,500 and Dr A R APC Ltd 7,800 Cr Sales 7,800 B Dr COGS 7,800 Cr Inventory 7,800 and Dr APC Ltd 3,500 Cr Sales 3,500 C Dr COGS 7,800 Cr Inventory 7,800 and Dr A R APC Ltd 3,500 Cr Sales 3,500 D Dr COGS 3,500 Cr Inventory 3,500 and Dr APC Ltd 7,800 Cr Sales 7,800

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Question: In perpetual inventory system we learned from class, if the business sell inventory $7,800 to APC Ltd. on account, the cost is $3,500, the accounting

In perpetual inventory system we learned from class, if the business sell inventory $7,800 to APC Ltd. on account, the cost is $3,500, the accounting entry for this will be:

Dr. COGS 3,500 Cr. Inventory 3,500 and Dr. A/R-APC Ltd 7,800 Cr. Sales 7,800

Dr. COGS 7,800 Cr. Inventory 7,800 and Dr. APC Ltd 3,500 Cr. Sales 3,500

Dr. COGS 7,800 Cr. Inventory 7,800 and Dr. A/R-APC Ltd 3,500 Cr. Sales 3,500

Dr. COGS 3,500 Cr. Inventory 3,500 and Dr. APC Ltd 7,800 Cr. Sales 7,800

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