On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Shilling uses the perpetual inventory system and the gross method. The journal entry or entries that Shilling will make on May 1 is (are):
asked Sep 17, 2019 in Business by Bianca

A.
Sales 5,800
Accounts receivable 5,800

B.
Accounts receivable 4,000
Sales 4,000

C.
Accounts receivable 5,800
Cost of goods sold 4,000
Merchandise Inventory 4,000

D.
Accounts receivable 5,800
Sales 5,800

E.
Accounts receivable 5,800
Sales 5,800
Cost of goods sold 4,000
Merchandise Inventory 4,000