Saved Help Save & Exit Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 210, n/30. The journal entry to record this purchase is 17 or 50 Next > Prev Accounts Payablle 15, 000 Merchandise Inventory 15, 000 Purchases 15,000 Accounts Payable 15, 000 14, 700 50 SE Next>