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Under the Perpetual Inventory System Which Journal Entry Would Indicate

Question 42

Multiple Choice

Under the perpetual inventory system which journal entry would indicate a purchase of merchandise?


A) Debit,Inventory and credit,Cash.
B) Debit,Purchases and credit,Cash.
C) Debit,Costs of Goods Sold and credit,Inventory.
D) Debit,Inventory and credit,Cost of Goods Sold.

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