Tim Returned $600 of Merchandise Within the Discount Period

question 75

Multiple Choice

Tim returned $600 of merchandise within the discount period. The entry to record the return is to:

• A) debit Merchandise Inventory for $600; credit Accounts Payable for $600.
• B) debit Merchandise Inventory for $600; credit Sales for $600.
• C) debit Accounts Payable for $600; credit Merchandise Inventory for $600.
• D) debit to Accounts Payable for $600; credit Sales for $600.

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Definitions:

Organic Structure

The arrangement of atoms within a molecule that is primarily composed of carbon and hydrogen, characterizing organic compounds.

Salt Deposits

Concentrations of salt left behind when water evaporates, forming layers underground or on the surface.

Less Dense

Describes a lower mass per unit volume of a substance, often causing it to float atop more dense materials.

Continental Crust

The thick part of the Earth's crust that forms the large landmasses, typically composed of less dense rocks like granite.