On November$1,2026,$ Ashton Company purchased Merchandise Inventory for$$ $$35,000$ by signing a Note Payable. The note is for six months and bears interest at a rate of$8\%.$ The journal entry for the purchase of the merchandise using a perpetual inventory system would$$ be:

Question content area bottom

Part $1$

A$.$

Notes Payable

$35,000$

$$Merchandise Inventory

$35,000$

$$

B$.$

Merchandise Inventory

$35,000$

$$

$$Accounts Payable

$$

$35,000$

$$

C$.$

Merchandise Inventory

$35,000$

$$

$$Notes Payable

$$

$35,000$

$$

D$.$

Accounts Payable

$35,000$

$$

$$Merchandise Inventory

$$

$35,000$