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What is the Jan 1st Journal Entry in Ray Jones Store book under the Periodic Inventory System? Jan 1, 2020. Ray Jones Store purchased, on

What is the Jan 1st Journal Entry in Ray Jones Store book under the Periodic Inventory System? image text in transcribed
Jan 1, 2020. Ray Jones Store purchased, on credit, from Tom Wholesellers, inventories costing $1,500. Credit terms were 3/10, n/30. Freight was FOB Destination for $10 and was paid by cash. What is the Jan 1st Journal Entry in Ray Jones Store books under the Periodic Inventory System? 1,510 a. Inventory Accounts Payable Cash 1,500 1,500 10 Purchases b. Freight-In Accounts Payable Cash 1,500 1,500 10 Inventory O C. Freight-In Accounts Payable Cash 1,500 d. Purchases 1,500 Accounts Payable 1,500

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