Owens Jewelers uses the perpetual inventory system. On April 2, Owens sold merchandise with a cost of $2,500 for $7,000 to a customer on account with terms of 2/15, n/30. Which of the following journal entries correctly records the sales revenue?
A)
Sales Revenue 7,000
Accounts Receivable 7,000
B)
Sales Revenue 7,000
Cost of Goods Sold 7,000
C)
Accounts Receivable 2,500
Sales Revenue 2,500
D)
Accounts Receivable 7,000
Sales Revenue 7,000
D
Business
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