The journal entry to record a Purchase of Merchandise Inventory from Supplier for cash under periodic inventory method is: a. Debit Purchase Credit Cash b. Debit Purchase Credit Accounts receivable c. Debit Purchase Credit Accounts payable d. Debit Cash Credit Sales

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 24MC: Which of the following accounts are used when recording a purchase using a periodic inventory...
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The journal entry to record a Purchase of Merchandise Inventory from Supplier for cash under periodic inventory method is:
a.
Debit Purchase Credit Cash
b.
Debit Purchase Credit Accounts receivable
c.
Debit Purchase Credit Accounts payable
d.
Debit Cash Credit Sales
Clear my choice
 
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