A merchandiser purchased inventory on account for $10,000. Under the periodic inventory system, the journal entry to record the purchase would include ________
A) a debit to Purchases for $10,000 and a credit to Accounts Payable for $10,000
B) a debit to Accounts Payable for $10,000 and a credit to Purchases for $10,000
C) a debit to Merchandise Inventory for $10,000 and a credit to Accounts Payable for $10,000
D) a debit to Accounts Payable for $10,000 and a credit to Merchandise Inventory for $10,000
A
Business
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