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In a perpetual system, when inventory is sold on account: Sales Revenue is increased and...

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Accounting

In a perpetual system, when inventory is sold on account:

Sales Revenue is increased and Accounts Receivable is decreased.

Sales Revenue, Cost of Goods Sold, and Accounts Receivable are increased while Inventory is decreased.

Sales Revenue and Accounts Receivable are increased, and Cost of Goods Sold and Inventory are decreased.

Sales Revenue is increased and Inventory is decreased.

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