The Wilson Company purchased $38,000 of merchandise from the Poole Wholesale Company. Wilson also paid $3,100...

Transcribed Image Text:

The Wilson Company purchased $38,000 of merchandise from the Poole Wholesale Company. Wilson also paid $3,100 for freight costs to have the goods shipped to its location. Which of the following statements regarding the necessary entries for the transactions is true? Wilson uses the perpetual inventory system. Total debits to the inventory account would be $41,100. Transportation-in would be debited for $3,100. Total debits to the inventory account would be $38,000. O Total debits to the inventory account would be $3,100. The Wilson Company purchased $38,000 of merchandise from the Poole Wholesale Company. Wilson also paid $3,100 for freight costs to have the goods shipped to its location. Which of the following statements regarding the necessary entries for the transactions is true? Wilson uses the perpetual inventory system. Total debits to the inventory account would be $41,100. Transportation-in would be debited for $3,100. Total debits to the inventory account would be $38,000. O Total debits to the inventory account would be $3,100.

Answer rating: 100% (QA)

ATotal debits to the inventory acco... View the full answer