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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
The journal entry to record the purchase of $7,400 of inventory on account under the perpetual inventory system is:
A) debit Inventory, $7,400; credit Cash, $7,400.
B) debit Purchases, $7,400; credit Accounts Payable, $7,400.
C) debit Inventory, $7,400; credit Accounts Payable, $7,400.
D) debit Cost of Goods Sold, $7,400; credit Inventory, $7,400.
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Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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bravata Author
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6 years ago
This is a life saver
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