Mr. Ameen use periodic inventory system makes the following journal entry in his business: Debit Accounts receivable Credit Sales. Which of the following transaction is Correct for the journal entry? a. Sold Merchandise inventory to Customer b. Paid Cash to Suppliers c. Returned Merchandise inventory to Supplier d. Purchased Merchandise inventory from Supplier

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A:

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A: Inventory system is defined as the part of accounting system were the value of inventory is computed…