Question: Assuming a periodic inventory system, the journal entry to record the purchase on account of $1,070 of merchandise with freight of $150 prepaid and added

Assuming a periodic inventory system, the journal entry to record the purchase on account of $1,070 of merchandise with freight of $150 prepaid and added to the invoice is:

A. Debit purchases $1220; credit accounts payable $1220

B. Debit purchases $1070; debit freight in $150; credit accounts payable $1220

C. Debit accounts receivable $1220; credit sales $1220

D. Debit accounts payable $1220; debit freight in $150; credit purchases $1070

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Question: Assuming a periodic inventory system, the journal entry to record the purchase on account of $1,070 of merchandise with freight of $150 prepaid and added

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