Nice Guys Apparel Received a $200 Credit Memorandum as an Allowance

question 92

Multiple Choice

Nice Guys Apparel received a $200 credit memorandum as an allowance for goods that it returned to one of its suppliers. Identify the statement below that would be correct when posting the transaction.

• A)A credit of $200 would be posted to the Purchases account in the general ledger.
• B)A debit of $200 would be posted to the supplier's account in the accounts payable ledger.
• C)A debit of $200 would be posted to the supplier's account in the accounts receivable ledger.
• D)A credit of $200 would be posted to the Accounts Receivable account in the general ledger.

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