A Merchandiser Returned Inventory Worth $1,400 That Was Purchased on Account.Under

question 172

Multiple Choice

A merchandiser returned inventory worth $1,400 that was purchased on account.Under the periodic inventory system,the journal entry to record the return would include ________.

• A)a debit to Purchase Returns and Allowances for $1,400 and a credit to Accounts Payable for $1,400
• B)a debit to Accounts Payable for $1,400 and a $1,400 credit to Purchase Returns and Allowances
• C)a debit to Purchases for $1,400 and a credit to Accounts Payable for $1,400
• D)a debit to Accounts Payable for $1,400 and a credit to Purchases for $1,400

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Definitions:

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An approach to understanding human behavior by placing it within its broader social context, considering how society influences individuals and groups.

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