Kena's Formalwear uses a perpetual inventory system. Which of the following entries is the correct journal entry to record the purchase of $20,000 of merchandise on account? A. Dr. Inventory Cr. Accounts payable 20,000 20,000 B. Dr. Inventory 20,000 Cr. Purchases 20,000 C. Dr. Purchases Cr. Inventory 20,000 20,000 D. Dr. Purchases 20,000 Cr. Accounts payable 20,000