A Merchandiser Purchased Inventory on Account for $10,000

question 79

Multiple Choice

A merchandiser purchased inventory on account for $10,000. Under the periodic inventory system, the journal entry to record purchases would include:

• A)a debit to Purchases for $10,000 and a credit to Accounts Payable for $10,000.
• B)a debit to Accounts Payable for $10,000 and a credit to Purchases for $10,000.
• C)a debit to Merchandise Inventory for $10,000 and a credit to Accounts Payable for $10,000.
• D)a debit to Accounts Payable for $10,000 and a credit to Merchandise Inventory for $10,000.

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Definitions:

Unit Relation

The interconnectedness or interaction between different components or elements within a system.

Sentiment Relation

The association and connection between feelings or attitudes and how they influence behaviors or perceptions.

Multi-Attribute Models

Psychological models used to understand and predict consumers' attitudes and behaviors by analyzing multiple dimensions or attributes of a product or service.

Multi-Attribute Model

A psychological model used to predict customer's attitudes or behavior towards a product or brand, based on the weighted sum of its attributes.