When recording the sale of merchandise inventory, using a periodic inventory system, ________
A) a running record of merchandise inventory is maintained during the accounting period
B) the Sales Revenue account is credited only as an adjusting entry because sales information is not needed during the accounting period
C) sales discounts and sales returns and allowances are not recorded
D) there is no need to record an entry to the Merchandise Inventory and the Cost of Goods Sold accounts
D
Business
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