Clark Sales sold 450 units of product to a customer on accou

Clark Sales sold 450 units of product to a customer on account. The company uses the perpetual inventory system. The selling price was $28 per unit, and the cost, according to the company’s inventory records, was $12 per unit

Provide the journal entries to record the sale.
What will be an ideal response

ANSWER

Accounts Receivable 12,600
Sales Revenue 12,600

Cost of Goods Sold 5,400
Merchandise Inventory 5,400

Note:
Sales Revenue = 450 units × $28 per unit = $12,600