Using the periodic method, what is the journal entry to record the purchase of 2000 of merchandise inventory on account?
Using the periodic method, what is the journal entry to record the purchase of 2000 of merchandise inventory on account?
A. Dr. Purchases 2,000 Cr. Cash 2,000
B. Dr. Cash 2,000 Cr. Purchases 2,000
C. Dr. Purchases 2,000 Cr. Accounts
D. Dr. Merchandise Inventory 2,000 Cr. Accounts Receivable 2,000
E. None of the above
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Using the periodic method, what is the journal entry to record the purchase of 2000 of merchandise inventory on account?
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