Garfunkle Company Had the Following Four Transactions During January 2012

question 119

Multiple Choice

Garfunkle Company had the following four transactions during January 2012:

- Refer to Exhibit 7-1.Given the information above,with the perpetual inventory method,the entry to record the January 15 transaction would include a

• A)Debit to Purchases of $150
• B)Credit to Purchases of $150
• C)Credit to Inventory of $150
• D)Credit to Purchase Returns of $150

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