The Journal Entry to Record a Return of Merchandise Purchased

question 213

Multiple Choice

The journal entry to record a return of merchandise purchased on account under a perpetual inventory system would credit

• A) Accounts Payable.
• B) Purchase Returns and Allowances.
• C) Sales Revenue.
• D) Inventory.

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Definitions:

Genetic Resistance

The ability of an organism to withstand or be less affected by diseases, pests, or environmental conditions due to its genetic makeup.

Toxicity

The degree to which a chemical substance or a particular mixture of substances can cause harm to an organism or the environment.

Persistence

refers to the enduring existence or continual occurrence of a characteristic, condition, or effect over a long period.

Biologically Magnified

Refers to the process by which certain harmful substances, such as pesticides or heavy metals, increase in concentration as they move up the food chain.