Question

11. Which of the following is the correct journal entry to record the purchase of $7,500 of inventory on account under the perpetual inventory system?

O A. Debit Inventory, $7,500, credit Accounts Payable, $7,500
O B. Debit Purchases, $7,500, credit Accounts Payable, $7,500
O C. Debit Cost of Goods Sold, $7,500, credit Inventory, $7,500
O D. Debit Inventory, $7,500, credit Cash, $7,500

Answer 1

I believe the answer is D

Answer 2

d.

Explanation:

bc if you purchase 7500 you will have a debit