Juniper Company, Inc

question 15

Multiple Choice

Juniper Company, Inc. uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The correct journal entry to record the merchandise return on August 11 is:

• A)Debit Accounts Payable $1,500; credit Cash $1,500.
• B)Debit Accounts Payable $1,500; credit Merchandise Inventory $1,500.
• C)Debit Merchandise Inventory $1,500; credit Sales Returns $1,500.
• D)Debit Merchandise Inventory $1,500; credit Cash $1,500.
• E)Debit Accounts Payable $1,500; credit Purchase Returns $1,500.

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Definitions:

Ethical Behavior

Conducting oneself according to morally sound principles in personal and professional settings.

Environmental Abuses

Refers to activities and actions that cause harm or damage to the natural environment, often due to human activities such as pollution, deforestation, and wildlife exploitation.

Direction of Attention

The focus or prioritization of cognitive resources on specific aspects of the environment or a task.

Persistence

Persistence is the quality of continuing steadfastly in spite of challenges, obstacles, or difficulty, demonstrating a commitment to achieving a particular goal or objective.