Under the Perpetual System,the Purchase of Merchandise Is Recorded by A

question 80

Multiple Choice

Under the perpetual system,the purchase of merchandise is recorded by a:

• A)debit to Merchandise Inventory; credit to Accounts Payable or Cash.
• B)debit to Cost of Goods Sold; credit to Accounts Payable.
• C)debit to Purchases; credit to Accounts Payable.
• D)debit to Accounts Payable; credit to Purchases.

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