Garfunkle Company Had the Following Four Transactions During January 2012

Multiple Choice

Garfunkle Company had the following four transactions during January 2012:

- Refer to Exhibit 7-1.Given the information above,with the perpetual inventory method,the entry to record the January 15 transaction would include a

A) Debit to Purchases of $150
B) Credit to Purchases of $150
C) Credit to Inventory of $150
D) Credit to Purchase Returns of $150