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ABC Corporation purchased on credit and received $2,500 worth of goods to be sold in its stores. How would the transaction be recorded assuming it

ABC Corporation purchased on credit and received $2,500 worth of goods to be sold in its stores. How would the transaction be recorded assuming it uses a perpetual inventory system?

A.

The transaction would not be recorded at this time.

B.

A $2,500 increase in inventory and a $2,500 increase in accounts payable.

C.

A $2,500 increase in inventory and a $2,500 increase in expenses.

D.

A $2,500 increase in expenses and a $2,500 increase in accounts payable

E.

A $2,500 decrease in expenses and a $2,500 decrease in accounts payable.

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