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Davis Hardware Company uses a perpetual inventory system. How should Davis record the sale of...

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Accounting

Davis Hardware Company uses a perpetual inventory system. How should Davis record the sale of inventory, costing $650, and sold on account for $1,020?
Multiple Choice
A: Account Title Debit Credit
Accounts receivable 1,020
Sales revenue 1,020
Cost of goods sold 650
Inventory 650
B: Account Title Debit Credit
Inventory 650
Accounts receivable 650
Sales 1,020
Sales revenue 1,020
C: Account Title Debit Credit
Accounts receivable 1,020
Sales revenue 650
Gain on sale 370
D: Account Title Debit Credit
Inventory 650
Gain on sale 370
Sales revenue 1,020

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