A Company Using a Perpetual Inventory System That Returns Goods

question 33

Multiple Choice

A company using a perpetual inventory system that returns goods purchased on credit would

• A)debit Accounts Payable and credit Merchandise Inventory.
• B)debit Sales and credit Accounts Payable.
• C)debit Cash and credit Accounts Payable.
• D)debit Accounts Payable and credit Purchases.

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