The Journal Entry to Record a Sales Return Made by a Customer

question 71

Multiple Choice

The journal entry to record a sales return made by a customer would include:

• A)A debit to Accounts Receivable and a credit to Sales Returns
• B)A debit to Cash and Sales Returns
• C)A debit to Sales Returns and a credit to Accounts Receivable
• D)A debit to Accounts Receivable and a credit to Cash

Recognize the significance of the Big Five personality traits in job performance and satisfaction.

Comprehend the role of intrinsic versus extrinsic motivation in career satisfaction and performance.

Identify the processes and tools used for career and vocational assessment.

Understand the concept of amotivation and its implications in workplace settings.

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Definitions:

Preferred Stock

A type of stock that gives its holders preference over common stockholders in terms of dividends and claims on assets during liquidation.

Treasury Stock

Treasury stock is made up of shares that have been issued and subsequently bought back by the company that issued them, which decreases the number of shares available on the open market.

Common Stock

A type of equity security that represents ownership in a corporation, providing voting rights and a share in the company's profits through dividends.

Par Preferred Stock

Preferred shares issued at a stated value (par value), which typically determines the dividend payments and is considered during liquidation.