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Question - Landon Jewelers uses the perpetual inventory system. On April 2, Landon sold merchandise with a cost of $1,500 for $10,000 to a customer on account with terms of 3/15, n/30. What the journal entry to record the cost of goods sold?
a. Cost of Goods Sold 1500
Merchandise Inventory 1500
b. Sales Revenue 1500
Cost of Goods Sold 1500
c. Merchandise Inventory 1500
d. Cost of Goods Sold 1500
Accounts Receivable 1500
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