Question: 2) When goods purchased for resale by a company using a periodic inventory system: are a) Purchases on account are debited to merchandise to merchandise

2) When goods purchased for resale by a company using a periodic inventory system: are a) Purchases on account are debited to merchandise to merchandise inventory b) Purchases on account are debited to purchases c) Purchase returns are debited to purchase Returns and Allowances d) Freight costs are debited to purchases

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