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Using the Perpetual Inventory System,the Purchase of Merchandise on Account

Question 46

Multiple Choice

Using the perpetual inventory system,the purchase of merchandise on account would include a:


A) debit to Merchandise Inventory and a credit to Accounts Payable.
B) debit to Accounts Payable and a credit to Merchandise Inventory.
C) debit to Accounts Receivable and a credit to Sales.
D) debit to Sales and a credit to Accounts Receivable.

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