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:

Non-English Speakers

Individuals whose primary language is not English, often facing challenges in environments where English is the dominant language.

Small Groups

Collections of individuals, typically ranging from three to about twelve, who come together for a common purpose.

Single Purpose

Focused on one specific objective or goal, often indicating a narrow or targeted approach.

Writing Skills

The ability to express ideas and communicate information clearly and effectively through written text.