Jona/ 21 complete This Test: 100 pts possible Grogan Company purchases inventory on account with a cost of $1,600 and a retail price of $3,200. Grogan Company uses the perpetual inventory method. What journal entry is required on the date of purchase? O A. debit Purchases for $3,200 and credit Cash for $3,200 OB. debit Inventory for $1,600 and credit Accounts Payable for $1,600 O c. debit Purchases for $1,600 and credit Accounts Payable for $1,600 OD. debit Accounts Receivable for $3,200 and credit Purchases for $3,200