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2 years ago

norma inc. uses the perpetual inventory system. when the company records a sale, it should make entries to:

1 answer:

5 0

The fact that Norma Inc. uses a perpetual inventory system means that when a sale is recorded, the company should:

b. decrease an asset and increase an expense.
c. increase an asset and increase revenue.

<h3>What happens when a sale is made?</h3>

The revenue account should be increased because a sale brings money into the business. Cash or Account Receivables should also increase depending on is the sale was a cash or credit sale.

Cost of goods sold would increase as well and it is an expense. The asset of inventory would decrease to show that there is less inventory on account of the sale.

Options for this question are:

a. decrease an asset and decrease revenue

b. decrease an asset and increase an expense

c. increase an asset and increase revenue

d. increase an asset and decrease an expense

Find out more on the perpetual inventory system at brainly.com/question/25014592.

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