Which of the Following Is TRUE of a Purchases Journal

Multiple Choice

Which of the following is TRUE of a purchases journal?

A) For a periodic inventory system, the Merchandise Inventory DR column is replaced with a column titled Cost of Goods Sold DR.
B) Cash purchases are recorded in the purchases journal.
C) For a perpetual inventory system, a column titled Purchases DR is needed.
D) The Other Accounts DR column is used for purchases on account of items other than merchandise inventory and office supplies.