If a Company Were Using a Periodic Inventory System, Which $\begin{array}{|c|c|c|}\hline \text { Dr. Inventory } & 20,000 & \\\hline \text { Cr. Accounts payable } & & 20,000\\ \hline\end{array}$

question 37

Multiple Choice

If a company were using a periodic inventory system, which of the following entries is the correct journal entry to record the purchase of $20,000 of merchandise on account?
a)
$\begin{array}{|c|c|c|}\hline \text { Dr. Inventory } & 20,000 & \\\hline \text { Cr. Accounts payable } & & 20,000\\ \hline\end{array}$

b)
$\begin{array}{|c|c|c|}\hline \text { Dr. Inventory } & 20,000 & \\\hline \text { Cr. Purchases } & & 20,000 \\\hline\end{array}$

c)
$\begin{array}{|c|c|c|}\hline \text { Dr. Purchases } & 20,000 & \\\hline \mathrm{Cr} \text {. Inventory } & & 20,000\\ \hline\end{array}$

d)
$\begin{array}{|c|c|c|}\hline \text { Dr. Purchases } & 20,000 & \\\hline \text { Cr. Accounts payable }& & 20,000 \\\hline\end{array}$

• A) Choice A
• B) Choice B
• C) Choice C
• D) Choice D

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Definitions:

Eupnea

Normal, good, unlabored breathing.

Eu-

A prefix meaning good, well, advantageous, or normal in the context of medical terminology.

Hypo-

Prefix indicating low, under, beneath, down, or less than normal.

Mega-

A prefix in medical terminology indicating enlargement or one million units.