Aspen,Inc.purchased merchandise from Crimson Corp.for cash.The journal entry for Aspen,Inc.under a perpetual inventory system will be:
A) debit Inventory;credit Cash.
B) debit Cash;credit Inventory.
C) debit Inventory;credit Accounts Payable-Crimson Corporation.
D) debit Inventory;credit Accounts Receivable-Crimson Corporation.
Correct Answer:
Verified
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