The proper journal entry to record the receipt of inventory purchased on account in a perpetual inventory system would be:
A) Jan 1 Inventory 540.00Accounts Payable 540.00
B) Jan 1 Office Supplies 540.00Accounts Payable 540.00
C) Jan 1 Purchases 540.00Accounts Payable 540.00
D) Jan 1 Purchases 540.00Accounts Receivable 540.00
A
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Fill in the blank(s) with the appropriate word(s).