Tayler Corporation purchased merchandise from Brandon Corporation for cash. The journal entry for Tayler Corporation under a periodic inventory system will be:
A) debit Inventory; credit Cash.
B) debit Purchases; credit Cash.
C) debit Inventory; credit Accounts Payable-Brandon Corporation.
D) debit Inventory; credit Accounts Receivable-Taylor Corporation.
E) debit Purchases, credit Accounts Payable -Brandon Corporation.
Correct Answer:
Verified
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