Question

Roberto Company uses a perpetual inventory system. On December 1, the company purchased $3,300 of merchandise for cash. Complete the following journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns View transaction list Journal entry worksheet Roberto Company uses a perpetual inventory system. On December 1, the company purchased $3.300 of merchandise for cash. Note: Enter debits before credits

Answer 1

Answer:

December 1, 202x, merchandise purchased for cash

Dr Merchandise inventory 3,300

    Cr Cash 3,300

Explanation:

When a company uses a perpetual inventory system, any purchases or sales are recorded directly using the appropriate inventory account. When a company uses a periodic inventory system, you should use a purchase account instead.