Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 24MC: Which of the following accounts are used when recording a purchase using a periodic inventory...
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![Ameen LLC sold goods of OMR 7150
on account. The entry to record the
sales the entry will be
Select one:
a. Debit to Accounts Payable A/C
and Credit to Purchases A/C.
O b. Debit to Purchases A/C and
Credit to Accounts Payable.
O c. Debit to Sales A/C and Credit to
Accounts Receivable.
O d. Debit to Accounts Receivable A/C
and Credit to Sales A/C.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F801764a4-8794-4292-b5d1-f6fcf1e9e9d7%2Fb93d7992-8324-44d6-a292-d340735ccfb3%2Fjytf85m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Ameen LLC sold goods of OMR 7150
on account. The entry to record the
sales the entry will be
Select one:
a. Debit to Accounts Payable A/C
and Credit to Purchases A/C.
O b. Debit to Purchases A/C and
Credit to Accounts Payable.
O c. Debit to Sales A/C and Credit to
Accounts Receivable.
O d. Debit to Accounts Receivable A/C
and Credit to Sales A/C.
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