A company sold $1,500 worth of goods and received immediate payment (the cost of goods sold was $1,200). Prepare the general journal entry
DEBIT: Revenue for $1,500; CREDIT: Cash for $1,500
DEBIT: Cost of Goods Sold for $1,200; CREDIT: Inventory for $1,200
DEBIT: Revenue for $1,500; CREDIT: Cash for $1,500
DEBIT: Inventory for $1,200; CREDIT: Cost of Goods Sold for $1,200
DEBIT: Cash for $1,500; CREDIT: Revenue for $1,500
DEBIT: Inventory for $1,200; CREDIT: Cost of Goods Sold for $1,200
DEBIT: Cash for $1,500; CREDIT: Revenue for $1,500
DEBIT: Cost of Goods Sold for $1,200; CREDIT: Inventory for $1,200