The journal entry to record the purchase of $8,800 of inventory on account under the perpetual inventory system is:
A) debit Inventory, $8,800; credit Cash, $8,800.
B) debit Purchases, $8,800; credit Accounts Payable, $8,800.
C) debit Inventory, $8,800; credit Accounts Payable, $8,800.
D) debit Cost of Goods Sold, $8,800; credit Inventory, $8,800.
C) debit Inventory, $8,800; credit Accounts Payable, $8,800.
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