Skiing International uses a perpetual inventory system when recording its purchases and sales of inventory.If the business purchases $8,000 of goods on account,select the correct entry to record the purchase:

Question

Quizplus · Accepted Answer

The entry to record the purchase on account would be a debit to inventory and a credit to accounts payable. Option B shows the correct account titles and amounts for this entry.

Skiing International Uses a Perpetual Inventory System When Recording Its