Which of the following transactions would not result in an entry to the merchandise inventory account in

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Which of the following transactions would not result in an entry to the merchandise inventory account in the buyer’s accounting records under a perpetual inventory system?

a. The purchase of merchandise on credit.

b. The payment of freight by the seller for goods received from a supplier.

c. The return of merchandise to the supplier.

d. The payment of a credit purchase of merchandise within the discount period.

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Cornerstones Of Financial Accounting Current Trends Update

ISBN: 9781111527952

1st Edition

Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen

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