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When purchases of merchandise are made on account with a perpetual inventory system, the transaction is journalized with which entry? a.debit Merchandise Inventory; credit Purchases

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When purchases of merchandise are made on account with a perpetual inventory system, the transaction is journalized with which entry? a.debit Merchandise Inventory; credit Purchases b.debit Merchandise Inventory; credit Cash Discounts c.debit Merchandise Inventory; credit Accounts Payable d.debit Accounts Payable; credit Merchandise Inventory

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