Question 17: On November 1, 2025, Ashton, Inc. purchased merchandise inventory for $35,000 by signing a note payable. The note is for 6 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: a) 35,000 Merchandise Inventory Notes Payable 35,000 b) Notes Payable Merchandise Inventory c) Merchandise Inventory Accounts Payable d) $18,900 Accounts Payable 35,000 Merchandise Inventory 35,000 e) All of the above are not correct Question 18: For the month of September, Seawide Sales, Inc. recorded gross pay of $71,500. The net pay for the month amounted to $57,000. The salaries are paid on October 5. Which of the following is the journal entry for the payment of salaries? a) Salaries and Wages Payable 57,000 Cash 57,000 b) Salaries and Wages Payable Cash Salaries and Wages Expense Cash d) vel ace ber cies be: 500 3B 35,000 Cash 35,000 35,000 35,000 71,500 71,500 57,000 71,500 Salaries and Wages Expense e) All of the above are not correct 57,00