The Journal Entry to Record the Return of a Purchase

question 69

Multiple Choice

The journal entry to record the return of a purchase of inventory under the periodic system includes a:

• A)debit to Merchandise Inventory.
• B)credit to Purchases Returns and Allowances.
• C)credit to Merchandise Inventory.
• D)credit to Purchases.

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Definitions:

Cultural Definition

This encompasses the shared meanings, values, norms, and practices of a particular group that guide their behavior and interpretation of the world, often distinguishing one culture from another.

Sex/Gender Distinction

The differentiation between 'sex', typically referring to biological differences, and 'gender', which refers to the roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.

Binary Construction

A conceptual framework that divides things into two mutually exclusive categories, often used to describe simplified distinctions in society, such as male/female or right/wrong.

Egalitarian

Pertaining to the principle that all people are equal and deserve equal rights and opportunities.