Grogan Company purchases inventory on account with a cost of $800 and a retail price of $1,600. Grogan Company uses the perpetual inventory method. What journal entry is required on the date ofpurchase?

A.

debit Inventory for $800 and credit Accounts Payable for $800

B.

debit Purchases for $1,600 and credit Cash for $1,600

C.

debit Purchases for $800 and credit Accounts Payable for $800

D.

debit Accounts Receivable for $1,600 and credit Purchases for $ 1,600