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Salmon Company purchased merchandise worth $4,000 from Beige Company on account, with prepaid freight of $150. Which of the following journal entries records the
Salmon Company purchased merchandise worth $4,000 from Beige Company on account, with prepaid freight of $150. Which of the following journal entries records the purchase of merchandise by Salmon assuming that it uses the perpetual inventory system? O a. A debit to Purchases and Freight out for $4,000 and $150 respectively and a credit to Accounts Payable, Beige Company for $4,150 O b. A debit to Purchases for $4,150 and a credit to Accounts Payable, Beige Company for $4,150 c. A debit to Merchandise Inventory for $4,150 and a credit to Accounts Payable, Beige Company for $4,150 d. A debit to Merchandise Inventory and Freight In for $4,000 and $150 respectively and a credit to Accounts Payable, Beige Company for $4,150
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