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11 Dec 2019
The journal entry for the purchase of inventory on the account using the perpetual inventory system is
A. Debit purchases and credit account payable
B. Credit purchases and debit account payable
C. The subtraction of merchandise inventory and account payable.
D. Credit both purchases and account payable
The journal entry for the purchase of inventory on the account using the perpetual inventory system is
A. Debit purchases and credit account payable
B. Credit purchases and debit account payable
C. The subtraction of merchandise inventory and account payable.
D. Credit both purchases and account payable
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