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10) Donaldson Corporation uses a periodic inventory system. On January 1, inventory is $253,000. On...

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10) Donaldson Corporation uses a periodic inventory system. On January 1, inventory is $253,000. On April 5, Donaldson sells inventory with a selling price of $75,000 on account. The cost of the inventory sold is $50,000. The journal entry (entries) to record the sale is (are)_ A) debit Cash and credit Sales Revenue B) debit Accounts Receivable and credit Sales Revenue; debit Cost of Goods Sold and credit Inventory C) debit Cash and Cost of Goods Sold and credit Sales Revenue and Inventory D) debit Accounts Receivable and credit Sales Revenue

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