If a Purchaser Returns Goods Purchased on Account to the Supplier

question 89

Multiple Choice

If a purchaser returns goods purchased on account to the supplier under a periodic 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 Payable and credit Purchase Returns.

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Definitions:

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Higher Security Standards

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