A) $10,600. is B) $9,600. C) $12,600. D) $14,000. 25) Which of the following transactions will cause a liability to be credited and an asset account to be debited when the perpetual inventory system is in use? A) Recorded the adjustment for depreciation B) Recorded the adjustment for the consumption of supplies C) Purchased merchandise inventory on account D) Purchased office supplies for cash 26) Purchases Returns and Allowances A) increase Inventory. B) decrease Inventory. C) have no effect on Inventory. D) Not enough information provided. 27) Hardware Restoration had a purchase of $40,000, a purchase return of $10,000, and a purchase discount of $1,500. What is the impact on Inventory? A) $28,500 B) $30,000 C) $51,500 D) $38,500 28) R&R Lumber reports a purchases of $40,000, a purchase return of $6,000, and a purchase discount of $1,500. What is the impact on Inventory? A) $47,500 B) $32,500 C) $38,500 D) $36,000 29) F.O.B. shipping point means A) the buyer pays for the freight. B) the seller pays for the freight. C) the title passes at time of shipment. D) both A and C are correct. 30) Accounts of a single type (i.e., Accounts Payable) are kept in this form of ledger. A) Supplemental ledger B) Employee ledger