Assuming a perpetual inventory system, on November, 01 Dollar Store purchased merchandise for $1,500 on terms 2/5, n/30, FOB shipping point. The entry to book this transaction is as follows: O A. Dr....

Extracted text: Assuming a perpetual inventory system, on November, 01 Dollar Store purchased merchandise for $1,500 on terms 2/5, n/30, FOB shipping point. The entry to book this transaction is as follows: O A. Dr. Accounts Payable 1,500; Cr. Merchandise Inventory 1,500 OB. Dr. Merchandise Inventory 1,500; Cr. Cash 1,500 Oc. Dr. Cash 1,500; Cr. Merchandise Inventory 1,500 OD. Dr. Merchandise Inventory 1,500; Cr. Account Payable 1,500