(Solved): On March 12, Fret Company sold merchandise in the amount of \( \$ 7,800 \) to Babson Company, with ...

On March 12, Fret Company sold merchandise in the amount of \( \$ 7,800 \) to Babson Company, with credit terms of \( 2 / 10 \), n/30. The cost of the items sold is \( \$ 4.500 \). Fret uses the perpetual inventory system and the gross method of accounting for sales. The journal entry or entries that Fret will make on March 12 is (are): Multiple Cholce \begin{tabular}{|c|c|c|} \hline Cost of Goods Sold & 4,500 & \\ \hline Merchandise Inventory & & 4,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{1}{|c|}{ Account Title } & Debit & Credit \\ \hline Accounts Receivable & 7,800 & \\ \hline Sales & & 7,800 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{1}{|c|}{ Account Title } & Debit & Credit \\ \hline Accounts Receivable & 7,800 & \\ \hline Sales & & 7,800 \\ \hline Cost of Goods Sold & 4,500 & \\ \hline Merchandise Inventory & & 4,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts Receivable & 4,500 & \\ \hline Sales & & 4,500 \\ \hline \end{tabular}