Torres, Inc. purchases $4,800 of inventory on account from Leo Corp. The journal entry to record this purchase for Torres under a perpetual inventory system is:
A) debit Inventory; credit Cash.
B) debit Accounts Payable-Leo; credit Inventory.
C) debit Inventory; credit Accounts Payable-Torres.
D) debit Inventory; credit Accounts Payable-Leo.
Correct Answer:
Verified
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