Question 18 (Mandatory) (1 point) The journal entry to record the purchase of inventory on account is: debit Inventory and credit Accounts Payable. debit Purchases and credit Accounts Payable. debit Inventory and credit Cost of Goods Sold. debit Cost of Goods Sold and credit Accounts Payable. Question 19 (Mandatory) (1 point) The journal entry to remove the beginning inventory as it is sold is: debit Cost of Goods Sold and credit Inventory. debit Inventory and credit Cost of Goods Sold. debit Purchases and credit Inventory. debit Purchases and credit Cost of Goods Sold