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Business, 21.03.2021 01:50 lilpeepxliltracy

A motorcycle dealership has the following parts in stock: 100 tires at a cost of $50 each, 30 batteries at a cost of $80 each and 20 helmets at a cost of $100 each. The business uses a perpetual inventory system. If 10 tires are sold for $70 each and 20 batteries are
sold for $100 each, which of the following journal entry is required to record the sale?
Select one:
O
a. Debit Cash $2,700, Credit Sales Revenue $2,700; Debit COGS $2,100, Credit Merchandise Inventory $2,100
b. Debit Cash $2,100, Credit Sales Revenue $2,100
c. Debit Sales Revenue $2,700, Credit Cash $2,700; Debit COGS $2,100, Credit Merchandise Inventory $2,100
d. Debit Sales Revenue $2,700, Credit Cash $2,700

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