When a purchase is made under the periodic system, the business will:
A) debit Vouchers Payable.
B) not enter a voucher in the voucher register.
C) debit Purchases.
D) credit Purchases.

Question

Quizplus · Accepted Answer

Under the periodic inventory system, purchases are recorded by debiting the Purchases account, which is a temporary account used to track the cost of inventory bought during the period.

When a Purchase Is Made Under the Periodic System, the Business