When Merchandise Is Purchased on Account Under the Perpetual Inventory

question 21

Multiple Choice

When merchandise is purchased on account under the perpetual inventory system, the journal entry is:

• A)debit Purchases and credit Accounts Payable.
• B)debit Accounts Payable and credit Inventory.
• C)debit Inventory and credit Accounts Payable.
• D)debit Accounts Payable and credit Purchases.

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Definitions:

Improve Motivation

Strategies or interventions aimed at increasing an individual's drive or desire to engage in specific behaviors or pursue certain goals.

Performance

The act or process of carrying out an action, task, or function.

Conditions

Circumstances or factors affecting the way in which people live or work, especially with regard to their well-being.

Overweight

Overweight is a medical condition characterized by having more body fat than is optimally healthy, often defined by a Body Mass Index (BMI) between 25 and 29.9.