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Assuming a periodic inventory system, the journal entry to record the purchase on account of $980 of merchandise with freight of $105 prepaid and added
Assuming a periodic inventory system, the journal entry to record the purchase on account of $980 of merchandise with freight of $105 prepaid and added to the invoice is: Multiple Choice O debit Purchases $980, debit Freight in $105credit Accounts Payable $1,085. O debit Accounts Payable $1,085, debit Freight in $105, credit Purchases $980 O debt Purchases $1085, credit Accounts Payable $1,085. debit Accounts Receivable 51085credit Soles SLOBS
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