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Question 23 1 pts Nhattle Company uses a periodic inventory system. Nhattle purchased matting from Dranch at a cost of P27,000 on credit. The entry to record the receipt of the matting would be O DR. Merchandise Inventory CR. Accounts Payable 27,000 27,000 DR. Purchases CR. Cash 27,000 27,000 DR. Merchandise Inventory CR. Cash 27,000 27,000 O DR. Purchases CR. Accounts Payable 27,000 27,000