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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
A merchandiser purchased inventory on account for $10,000. Under the periodic inventory system, the journal entry to record the purchase would include ________.
A) a debit to Accounts Payable for $10,000 and a credit to Merchandise Inventory for $10,000
B) a debit to Merchandise Inventory for $10,000 and a credit to Accounts Payable for $10,000
C) a debit to Accounts Payable for $10,000 and a credit to Purchases for $10,000
D) a debit to Purchases for $10,000 and a credit to Accounts Payable for $10,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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TanksTanks
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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