The following transactions apply to a company that uses a periodic inventory system. For each transaction, state which accounts are used and whether the account is debited or credited. All transactions involve the purchase of inventory.

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The Answer of The following transactions apply to a company that uses a periodic inventory system. For each transaction, state which accounts are used and whether the account is debited or credited. All transactions involve the purchase of inventory.

The Following Transactions Apply to a Company That Uses a Periodic