For a Company Using a Perpetual Inventory System, the Journal

Multiple Choice

For a company using a perpetual inventory system, the journal entry to record the purchase of $3,500 of goods on account, with terms of 4/10, n/30, would include a

A) debit to accounts payable of $3,500.
B) credit to accounts payable of $3,360.
C) debit to merchandise inventory of $3,360.
D) debit to merchandise inventory of $3,500.