What is the journal entry for purchasing inventory worth \$3,000 on account?

• A. Debit Cash \$3,000; Credit Inventory \$3,000
• B. Debit Accounts Payable \$3,000; Credit Inventory \$3,000
• C. Debit Inventory \$3,000; Credit Cash \$3,000
• D. Debit Inventory \$3,000; Credit Accounts Payable \$3,000

Answer: (D)