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Question 13 2.33 pts Merchandise costing $7,000 is sold on account for $12,000. In regard...

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Accounting

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Question 13 2.33 pts Merchandise costing $7,000 is sold on account for $12,000. In regard to the journal entry to record the sale, which of the following is correct? O Gross Profit is credited for $5.000 Accounts Receivable is debited for $12.000 Cost of Merchandise Sold is credited for $7.000 Merchandise Inventory is debited for $7.000

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