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18. Good, Inc. sold inventory for $1,200 that was purchased for $700. Which is the correet journal entry when Good sells the inventory using a perpetual inventory system? sold and inventory. B.Debit cost of goods sold $700; Credit inventory $700. C. Debit cost of goods sold $1,200; Credit inventory $1,200 D. Debit inventory $700; Credit cost of goods sold $700. 19. The Statement of Cash Flows: A. lists all cash flows over the life of a company. B. breaks down all cash transactions into Investing and Financing cash flows. C. shows that the change in total cash from one year to the next is equal to the net operating, investing, and financing eash flows. D. has two methods for Investing Cash Flows-direct and indirect. On January 2, 2016, AAA Publishing, Ine. received a one-year subscription for $100 to one of the magazines that it publishes. At that time, it debited cash for $100 and credited deferred revenue for $100. After all the magazines have been delivered through December 31, 2016, what journal entry needs to be recorded? 20. A. Debit Cash for $100 and credit Deferred Revenue for $100 B. Debit Accounts Receivable for $100 and credit Subscription Revenue for $100 S100 $100 C. Debit Accounts Receivable for $100 and credit Deferred Revenue for D. Debit Deferred Revenue for $100 and credit Subscription Revenue for

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