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  3. a company uses the perpetual inventory method. whi

A company uses the perpetual inventory method. Which of the following entries would be made...

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Accounting

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A company uses the perpetual inventory method. Which of the following entries would be made to record a $1,200 purchase of merchandise Inventory on account? The accounting entry would be a $1,200 debit to Purchases and a $1,200 credit to Accounts payable. The accounting entry would be a $1,200 debit to Accounts payable and a $1,200 credit to Purchases. The accounting entry would be a $1,200 debit to Merchandise Inventory and a $1,200 credit to Accounts payable. The accounting entry would be a $1,200 debit to Accounts payable and a $1,200 credit to Merchandise Inventory

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