If a Purchaser Returns Goods Purchased on Account to the Supplier

question 153

Multiple Choice

If a purchaser returns goods purchased on account to the supplier under a perpetual inventory system, the purchaser would debit:

• A)Inventory and credit Accounts Payable.
• B)Accounts Payable and credit Inventory.
• C)Inventory and credit Accounts Receivable.
• D)Accounts Receivable and credit Inventory.