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Under a periodic inventory system, when inventory is purchased on account, a. Purchases is debited and Cash is credited. b. Merchandise Inventory is debited and

Under a periodic inventory system, when inventory is purchased on account, a. Purchases is debited and Cash is credited. b. Merchandise Inventory is debited and Accounts Payable is credited. c. Purchases is debited and Accounts Payable is credited. d. Accounts Payable is debited and Merchandise Inventory is credited

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