The Corbit Corp. sold merchandise for $10,000 cash. The cost of the goods sold was $7,590. The journal entries to record this transaction under the perpetual inventory system would be

Perpetual Inventory System

An inventory transaction recording method that utilizes computerized point-of-sale systems and enterprise asset management software to instantly register the sale or acquisition of goods.

Journal Entries

Written records of the financial transactions and events of a business, used to document and track the financial impact on its accounts.