Question

current attempt in progress
to record the sale of goods for cash in a perpetual inventory system,
only one journal entry is necessary to record cost of goods sold and reduction of inventory.
two journal entries are necessary: one to record the receipt of cash and sales revenue, and one to record the cost of goods
sold and reduction of inventory.
only one journal entry is necessary to record the receipt of cash and the sales revenue.
two journal entries are necessary: one to record the receipt of cash and reduction of inventory, and one to record the cost of
goods sold and sales revenue.

Explanation:

In a perpetual inventory system, when goods are sold for cash, two separate journal entries are made. One entry is for the financial aspect (receipt of cash and recognition of sales revenue), and the other is for the inventory - related aspect (recording the cost of goods sold and reducing the inventory balance).

Answer:

two journal entries are necessary: one to record the receipt of cash and sales revenue, and one to record the cost of goods sold and reduction of inventory.