Which of the following is the correct journal entry for freight paid on goods purchased by a merchandiser using the periodic inventory system?

Question

Quizplus · Accepted Answer

The correct journal entry for freight paid on goods purchased by a merchandiser using the periodic inventory system is to debit the Purchases account for the cost of the inventory and credit Cash for the total amount paid, including freight. Option C has the correct account titles and amounts for this transaction. Option A has incorrect account titles, Option B has incorrect amounts, and Option D has incorrect account titles and amounts.

Which of the Following Is the Correct Journal Entry for Freight