Under a Periodic Inventory System, the Entry to Record the Return

question 23

Multiple Choice

Under a periodic inventory system, the entry to record the return of inventory sold on account for $360 with a cost of $210 would be recorded by the seller as a:

• A)credit to Accounts Receivable for $210.
• B)debit to Sales Returns and Allowances for $360.
• C)debit to Sales Revenue for $360.
• D)debit to Inventory for $210.

---

Definitions:

Embryonic Development

The process through which an embryo forms and develops, from fertilization to birth in animals, or to the seedling stage in plants.

Wide Smile

An expression involving a broad extension of the mouth, often showing teeth, indicative of happiness or friendliness.

Enduring Marriage

A long-lasting marital relationship characterized by mutual support, communication, and commitment.

Immediate Family

The closest kin group including the individual’s parents, siblings, spouse, and children.