The primary transactions recorded in the Cash Payments Journal, assuming a perpetual inventory system, are? A. Cash - Dri, Accounts Payable - Cr B. Accounts Payable - Dr.; Cash - Cr C. Accounts Receivable - Dr; Cash - Dr or Cr D. Cash - Dr., Purchases - Cr E. None of the above. The primary transactions recorded in the Cash Receipts Journal are? A. Purchases - Dr.; Revenue - Cr B. Cash - Dr;, Accounts Receivable - Cr C. Accounts Receivable -- Dr., Cash - Dr or Cr D. Accounts Payable - Dr: Cash - Cr E. All of the above. The ACCT 201 Co. paid cash for freight of $250 for merchandise shipped to WCC Co. free on board destination. The freight would be classified on a multiple step income statement as: A. part of the Cost of Merchandise Sold B. Delivery Expense in the Selling Expense category C. Administrative expenses D. part of merchandise inventory E. None of the above. Freight paid free on board destination is not an expense. Assume the following for Acct 201 for 2018: Sales $980,000; Cost of Merchandise Sold $645,000; Operating Expenses $100,000. The gross profit for Acct 201 for 2018 is: A. $225,000 B. $335,000 C. $235,000 D. $275,000 E. None of the above