ABC was created on December 1. On December 10 ABC makes its first and only purchase of December for $2000 worth of merchandise. On December 20 ABC makes its first and only sale of December. It sold half of the merchandise purchased on the 10th for $2000. December 31 is ABC's closing date. Assumption H1: ABC uses the periodic inventory system (also called intermittent inventory) Assumption H2: ABC uses the perpetual inventory system To record the December 10 purchase, ABC must: Options from question 13 :

Debit the Merchandise Inventory account according to H1

Debit Merchandise Purchase account as per H2

Debit the account Purchase of merchandise according to H1

Debit Cost of Sales account as per H2