The Entry to Record a Return by a Credit Customer

question 39

Multiple Choice

The entry to record a return by a credit customer of defective merchandise on which no sales tax was charged includes

• A) a debit to Sales and a credit to Accounts Receivable.
• B) a debit to Sales and a credit to Sales Returns and Allowances.
• C) a debit to Sales Returns and Allowances and a credit to Accounts Receivable.
• D) a debit to Accounts Receivable and a credit to Sales Returns and Allowances.

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Definitions:

Standard Deviation

It quantifies the variability or dispersion across a set of data points by calculating the average distance from the mean for each data point.

Variance

A statistical measure of the spread of a set of scores, calculating the average of the squared differences from the mean.

Sample Variance

A measure of the dispersion of a set of data points in a sample population, calculated by taking the mean of squared deviations from the sample mean.

Sample Standard Deviation

A measure of the dispersion or spread of data points in a sample from its mean.