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petual inventory system and makes a purchase of inventory on open account which of the following is the correct journal entry to record this purchase?...
A a company uses the Perpetual inventory system and makes a purchase of inventory on open account which of the following is the correct journal entry to record this purchase?
A a a debit to the Assets Office Supplies and a credit to cash.
B a debit to merchandise inventory and a credit to accounts payable.
C a debit to merchandise inventory and a credit to cash.
D a debit to sales returns and allowances and a credit to cost of good sold.
E none of the above