actice Question 24 Whic system? cording the sale of goods for cash in a perpetua

Question

actice Question 24 Whic system? cording the sale of goods for cash in a perpetual Iinventary a. Two journal entries are necessary: one to record the receipt of cash and sales reven and one to record the cost of goods sold and to reduce inventory Two journal entries are necessary: one to record the receipt of cash and reduction inventory, and one to record the the cost of goods sold and sales revenue. b. Only one journal entry is necessary. It will record cost of goods sold and reduce inventory. c. d. Only one journal entry is necessary. It will record the receipt of cash and sale nswer

Explanation / Answer

Two journal entries are necessary: one to record the receipt of cash and sales revenue and one to record the cost of goods sold and to reduce inventory Option A is correct

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