The perpetual inventory system is an inventory management method that records when stock is sold or received in real-time.
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How to depict thejournal?</h3>
a. Debit Accounts Receivable 12000
Credit Sales 12000
Debit Cost of Merchandise Sold 6500
Credit Merchandise Inventory 6500
b. Debit Cash 9500
Credit Sales 9500
Debit Cost of Merchandise Sold 5300
Credit Merchandise Inventory 5300
c. Debit Cash 2900
Credit Sales 2900
Debit Cost of Merchandise Sold 1700
Credit Merchandise Inventory 1700
d. Debit Credit Card Expense 385
Credit Cash 385
e. Debit Credit Card Expense 75
Credit Cash 75
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