Morget thc uses a perpetual inventory system and the mer method of recording purchases On May 12, a merchandise purchase of $20,000 was made on credit 30 nao. The joumal entry heat the pace Mt Chance Merchandise Inventory Accounts Payable 20,000 20,000 Accounts Pa Merchandise Inventory 20,000 Plechases Accounts Payables Purchases Accounts Payable 19,400 Merchandise levelitory Accounts Payable 29,4 19,400