A Merchandiser Purchased Inventory on Account for $18,000

question 23

Multiple Choice

A merchandiser purchased inventory on account for $18,000.Under the periodic inventory system,the journal entry to record the purchase would include ________.

• A)a debit to Purchases for $18,000 and a credit to Accounts Payable for $18,000
• B)a debit to Accounts Payable for $18,000 and a credit to Purchases for $18,000
• C)a debit to Merchandise Inventory for $18,000 and a credit to Accounts Payable for $18,000
• D)a debit to Accounts Payable for $18,000 and a credit to Merchandise Inventory for $18,000

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Definitions:

Negatively Affected

Experiencing a detrimental impact, leading to adverse changes in mental, emotional, or physical states.

Interests Opposed

Situations where the desires, intentions, or goals of individuals or groups are in conflict with one another.

Constructive Conflict

A type of conflict that leads to positive outcomes, fostering innovation, growth, and improvement within a group.

Different Points of View

The variety of perspectives that individuals can have based on their experiences, beliefs, and knowledge.