12. Liberty Industries purchased merchandise worth $1,800 on credit, terms n/30. What is the required journal entry to record the transaction under the perpetual inventory system? a. Accounts Receivable 1,800 Purchases 1,800 1.800 b. Purchases Merchandise Inventory 1,800 c. Merchandise Inventory Accounts Payable 1,800 1,800 1,800 d. Accounts Payable Merchandise Inventory 1,800 13. Brendan Company sold merchandise worth $1,600 on credit, terms n/15. The merchandise sold had cost $1,100. What is the required journal entry to record the transaction under the perpetual inventory system? a. Accounts Receivables 1,600 Sales 1,600 Cost of Goods Sold 1,100 Merchandise Inventory 1,100 1,600 1,600 b. Sales Accounts Receivables Merchandise Inventory Cost of Goods Sold 1,100 1,100 1,600 1,600 c. Accounts Receivables Merchandise Inventory Cost of Goods Sold Merchandise Inventory 1,100 1,100 1,600 1,600 d. Merchandise Inventory Sales Cost of Goods Sold Merchandise Inventory 1,100 1,100