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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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7 years ago
The journal entry to record the purchase of inventory under the perpetual system includes:
A) a debit to Cost of Goods Sold and a credit to Merchandise Inventory.
B) a debit to Merchandise Inventory; credit to Accounts Payable or Cash.
C) a debit to Accounts Receivable or Cash and a credit to Sales.
D) Both A and C are correct.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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7 years ago
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upton Author
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7 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
nsak
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Yesterday
Thanks
Goku935
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2 hours ago
Helped a lot
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