$$\text { Match each of the following items } ( a - h ) \text { with the appropriate definition below. }$$
-Account used to record merchandise on hand under a perpetual inventory system.
a. $\quad$Freight
b. $\quad$Delivery Expense
c. $\quad$Merchandise Inventory
d. $\quad$Sales discount
e. $\quad$Purchases Returns and Allowances
f. $\quad$Debit memo
g. $\quad$Purchase discount
h. $\quad$Trade discount

Question

Quizplus · Accepted Answer

The correct match for the account used to record merchandise on hand under a perpetual inventory system is "c. Merchandise Inventory." This account is used to continuously track the quantity and cost of inventory that a company has in stock.

Match each of the following items (a−h) with the appropriate definition below. \text { Match each of the following items } ( a - h ) \text { with the appropriate definition below. } Match each of the following items (a−h) with the appropriate definition below.

$\text { Match each of the following items } ( a - h ) \text { with the appropriate definition below. }$