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Armstrong Company sold $500 of merchandise (with a cost of $250) on credit to Babbling,...

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Question

Accounting

Armstrong Company sold $500 of merchandise (with a cost of $250) on credit to Babbling, Inc. This transaction is recorded in Armstrong's sales journal by entering _____.

500 in the Accounts Receivable Dr. Sales Cr. column.

500 in the Accounts Receivable Dr. Sales Cr. column and 250 in the Cost of Goods Sold Dr. Inventory Cr. column.

250 in the Accounts Receivable Dr. Sales Cr. column.

250 in the Accounts Receivable Dr. Sales Cr. column and 500 in the Cost of Goods Sold Dr. Inventory Cr. column.

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