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A company sold merchandise with a cost of $ 224 for $ 340 on account....

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Accounting

A company sold merchandise with a cost of $ 224 for $ 340 on account. The seller uses the perpetual inventory system. The entry to record the cost of merchandise sold would include ________. a. debit to sales revenue and a credit to cash for $340 b. a debit to cost of goods sold and a credit to merchandise inventory for $224 c. a debit to cash and a credit to sales revenue for $340 d. a debit to merchandise inventory for $224 and a credit to cost of goods sold for $224

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