Periodic system

In This system companies keep detailed records

• Periodic

• Perpetual

In this sysem we must do a physical count to our inventory

• Periodic

• Perpetual

When bought goods on account -- The credit side of this transaction is:

• Purchases

• Accounts receivables

• Accounts payable

• Merchandise inventory

When Sold goods on account (using periodic system) -- The Debit side of this transaction is:

• Sales

• Accounts receivables

• Accounts payable

• Cash

When Purchased goods on account (using periodic system) -- The Debit side of this transaction is:

• Purchases

• Accounts receivables

• Accounts payable

• Merchandise inventory

When Sold goods on account (using periodic system) -- The credit side of this transaction is:

• Sales

• Accounts receivables

• Accounts payable

• Cash

The nature of sales returns & allowances is

• Credit

• Debit

Debitor is another term for

• Accounts receivables

• Accounts payables

• Laiabilities

• Owners Equities

When Purchased goods on account (using perpetual system) -- The Debit side of this transaction is:

• Purchases

• Accounts receivables

• Accounts payable

• Merchandise inventory

Received the amount due from customer mariam B2500, The recorded jouranl entry for this transaction is:

• Dr. Cash

  Cr. Accounts payable

• Dr. cash

  Cr. Accounts Receivables

• Dr. Accounts payable

  Cr. Cash

• Dr. Cash

  Cr. Sales