Determine the insurance rate amount per thousand
Not at all because you're crediting the person who actually is the owner of the information. But if they asked you to put it in your own words, then I suppose it counts as plagiarism.
Answer:a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $217
( The answer Is not in the options given)
Explanation:
The Perpetual inventory is a method of accounting for inventory which immediately records when an inventory is sold or purchased using the available point-of-sale software systems of the particular business.
In that regard , the entry to record cost of merchandise sold
Account titles Debit Credit
Cost of goods (Merchandise sold) $217
Merchandise Inventory $217
