Uses the perpetual inventory system

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Which of the following entries would be made to record the purchase of inventory on account, if a company uses the perpetual inventory system?

a debit to Purchases and a credit to Accounts Payable

a debit to Accounts Payable and a credit to Purchases

a debit to Merchandise Inventory and a credit to Accounts Payable

a debit to Accounts Payable and a credit to Merchandise Inventory

Reference no: EM131250595

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