The journal entry to record the purchase of inventory on account under the perpetual inventory system is:
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Question:
The journal entry to record the purchase of inventory on account under the perpetual inventory system is:
A. debit Inventory credit Accounts Payable
B. debit Purchases credit Accounts Payable
C. debit Inventory credit Cash
D. debit Cost of Goods Sold credit Inventory
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
Posted Date: