Washington Warehouse is a small retail business that specializes in the sale of top-of-the-line televisions. This year, the store has begun to carry the Flat TV manufactured by Bass Co. Thus far, Washington has recorded the following transactions involving the Flat TV: Jan. 5 Purchased 8 Flat TVs at a unit cost of $1,400 Jan. 18 Purchased 5 additional Flat TVs at $1,400 each Feb. 12 Sold 9 Flat TVs to the Duke Hotel for $15,300

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45.Refer to the information above. If Washington uses a perpetual inventory system, the journal entry to record the purchase on January 18th would include which of the following?

	A credit to Inventory for $7,000.
	A debit to the Purchases account for $7,000.
	A debit to Inventory for $7,000.
	A debit to the Cost of Goods Sold for $7,000.