Under a perpetual inventory system,the journal entry to record the purchase of inventory on account will include a:

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Under a perpetual inventory system, the journal entry to record the purchase of inventory on account includes a debit to Inventory (increase in asset) and a credit to Accounts Payable (increase in liability). This reflects the increase in the company's inventory and the amount owed to the supplier. A debit to Purchases is used in periodic inventory systems to record the total cost of inventory purchases during a period, which is then used to calculate the cost of goods sold at the end of the period.

Under a Perpetual Inventory System,the Journal Entry to Record the Purchase