Centex Sound Systems purchased merchandise inventory costing $8,000 from Flower Co. on account. Where should Centex record

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Centex Sound Systems purchased merchandise inventory costing $8,000 from Flower Co. on account. Where should Centex record this transaction, and what account is credited?

a. Cash payments journal; credit Cash

b. Sales journal; credit Sales Revenue

c. Purchases journal; credit Accounts Payable

d. General journal; credit Merchandise Inventory

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Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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Question Posted: Feb 02, 2024 05:01 AM

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Centex Sound Systems purchased merchandise inventory costing $8,000 from Flower Co. on account. Where should Centex record

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Horngrens Financial And Managerial Accounting The Managerial Chapters

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