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What would be the correct journal entry

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Question - Smith Corporation purchased $68,000 of merchandise on credit. The company uses the perpetual method of recording inventory purchases. What would be the correct journal entry to record the purchase?

Merchandise Inventory 68,000

Accounts Payable 68,000

Purchases 68,000

Accounts Payable 68,000

Merchandise Inventory 68,000

Cash 68,000

Purchases 68,000

Interest Payable 68,000

Reference no: EM132556491

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