ABC Skiing Essentials Uses Special Journals

question 23

Multiple Choice

ABC Skiing Essentials uses special journals. If a credit customer returns $8,000 of goods on which
$560 of sales tax was charged, select the correct entry to record the return:

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Definitions:

Express Terms

Specific conditions and obligations explicitly stated and agreed upon by the parties in a contract.

Non Est Factum

A defense in contract law that the person signing the document did not understand its nature due to a significant mistake.

Duress

A situation where a person is forced into an action or decision under threat of harm or coercion.

Obligation

A duty or commitment imposed by law, contract, or moral duty.