Assuming a periodic inventory system is used, the journal entry to record the purchase of merchandise on account for $5,500 with freight of $370 prepaid and added to the invoice is: Multiple Choice debit Purchases $5,500, and credit Accounts Payable $5,500. debit Purchases $5,500, debit Freight In $370, and credit Accounts Payable $5,870. debit Accounts Payable $5,870, credit Freight in $370, and credit Purchases $5,500. debit Accounts Receivable $5,870, and credit Sales $5,870