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We Company purchased Merchandise inventory on account for $5,000. The seler paid treight charges of $50 wieh terms Fo a shipping point, and added the
We Company purchased Merchandise inventory on account for $5,000. The seler paid treight charges of $50 wieh terms Fo a shipping point, and added the $50 to the sales involice. We Conpany uses the perpetual hiventory system. The joumal entry for the transaction would be A. debit Merchandise irventory for $5,000 and Freight - in for $50; erede Account Payable for $5,050 B. Sebit Acoounts Payoble for $5,050; credt Merchandise inventory for $5,000 and Freight - in for $50 C. detit Merchandise inventary for $5,060, credt Account Payable for $5,090 D. debil Accounts Payabie for $5,050; credit Merchandse invertary for $5,050
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