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Journal Entry for Dr Merchandise and Cr Accounts Payable
C if the company is using perpetual system. But if the company is using the periodic inventory system, then debit to Purchases account.
Company is buying merchandise/goods on credit so journal entry will be:
Dr Merchandise/good and Cr Accounts Payable
C-------------------------------------------------------------------------
3. Dr merchandise a/c (purchase a/c and CR Trade payable a/c
Dr Merchandise and Cr Accounts Payable