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What Journal Entry Is Required When Inventory Is Purchased Under Cr\mathrm { Cr }

Question 95

Multiple Choice

What journal entry is required when inventory is purchased under the periodic inventory system?


A) Dr Cost of goods sold
Cr\mathrm { Cr } Inventory
B) Dr Cost of goods sold
Cr\mathrm { Cr } Inventory
Cr Purchases
C) Dr Inventory
Cr\mathrm { Cr } Accounts Payable
D) Dr Purchases
Cr\mathrm { Cr } Accounts Payable

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