A company uses the perpetual inventory system and recorded the following entry:Merchandise Inventory2,500 Accounts Payable 2,500 This entry reflects a:
A. Payment of the account payable less a 2% cash discount taken.
B. Payment of the account payable less a 1% cash discount taken.
C. Return of merchandise.
D. Purchase of merchandise on credit.
E. Sale of merchandise on credit.
Answer: D
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