A company that uses the perpetual inventory system sold goods to a customer for cash for $4,600. The cost of the goods sold was $1,000. Which of the following journal entries correctly records this transaction? A. Accounts Receivable 4,600 Cash 4,600 Cost of Goods Sold 1,000 Merchandise Inventory 1,000 B. Cash 4,600 Sales Revenue 4,600 Cost of Goods Sold 1,000 Merchandise Inventory 1,000 C. Merchandise Inventory 4,600 Sales Revenue 4,600 D. Cost of Goods Sold 4,600 Sales Revenue
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