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.

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Definitions:

Speech Sounds

The auditory signals used in language communication, produced by the articulation and phonation of phonemes by the vocal apparatus.

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To move at a regular pace by lifting and setting down each foot in turn, never having both feet off the ground at once.

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Young children from birth up to 12 months of age, a period marked by rapid growth and development across physical, cognitive, and socio-emotional domains.

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The gradual process by which infants and young children gain the ability to interpret and understand sensory information.