Understanding Journal Entries for Sales of Merchandise on

Your Answer (13.) Ajournal entry for a sale of merchandise on account will result in all oftne following: (Check all that apply). ' Credit to Merchandise Inventory Credit to Sales Debit to Sales Reason: Ajournal entry for a sale of merchandise on account will result in two journal entries. On the Revenue side. Accounts Receivable will be debited and Sales will be credited. On the Cost side, Cost of Goods Sold will be debited and Merchandise Inventory will be credited. ' Debit to Cost of Goods Sold ' Debit to Accounts Receivable Credit to Cost of Goods Sold Reason: Ajournal entry for a sale of merchandise on account will result in two journal entries. On the Revenue side. Accounts Receivable will be debited and Sales will be credited. On the Cost side, Cost of Goods Sold will be debited and Merchandise Inventory will be credited.