Benson Furniture, a furniture retailer, purchased $25,000 of inventory on account from a supplier, which Benson plans

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Benson Furniture, a furniture retailer, purchased $25,000 of inventory on account from a supplier, which Benson plans to resell to customers. In a journal entry, Benson's accountant should do what? Debit Inventory and credit Accounts Payable. Debit Accounts Payable and credit Inventory. Debit Cost of Goods Sold and credit Accounts Payable. Debit Inventory and credit Cost of Goods Sold