When merchandise is acquired on account and the perpetual inventory system is kept, the journal entry for purchases would include
a. debiting Purchases and crediting Accounts Payable; b. debiting Accounts Payable and crediting Merchandise Inventory; c. debiting Merchandise Inventory and crediting Accounts Payable; d. debiting Accounts Payable and debiting Purchases; e. debiting Cash and crediting Purchases
C
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