The journal entry to record a return of inventory purchased on account under a perpetual inventory system would credit: Group of answer choices Accounts Payable. Purchase Returns and Allowances. Sales Revenue. Inventory.

Under a perpetual inventory system: Group of answer choices accounting records continuously record the movement of inventory as it occurs. increases in inventory resulting from purchases are debited to purchases. there is never a need for a year-end physical count. the account purchase returns and allowances is credited when goods are returned to vendors.

In the perpetual inventory system, what is the journal entry to record the payment of accounts payable for inventory purchases?Question 9Answera.Debit Cash, Credit Inventoryb.Debit Cash, Credit Accounts Payablec.Debit Inventory, Credit Cashd.Debit Accounts Payable, Credit Cash

A buyer would record a payment within the discount period under a perpetual inventory system by creditingGroup of answer choicesAccounts Payable.Merchandise Inventory.Purchase Discounts.Sales Discounts.

Under the periodic inventory system, the journal entry to record the ending merchandise inventory in the books includes a:Multiple Choicecredit to purchases.credit to accounts payable.credit to merchandise inventory.credit to income summary

Under a perpetual inventory system, which of the following accounts would be used to record purchases? Group of answer choices Sales Purchases Cost of Sales Inventory