A Company That Uses a Perpetual Inventory System Purchased Inventory $$\begin{array} { | c | r | r | } \hline \text { Purchase Returns } & 200 & \\\hline \text { Accounts payable } & & 200 \\\hline\end{array}$$

question 50

Multiple Choice

A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $200 to the vendor. The journal entry to record these returns would be:

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Purchase Returns } & 200 & \\
• \hline \text { Accounts payable } & & 200 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Payable } & 200 & \\
• \hline \text { Purchase Returns } & & 200 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Merchandise Inventory } & 200 & \\
• \hline \text { Accounts Payable } & & 200 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \text { Accounts Payable } & 200 & \\
• \hline \text { Merchandise Inventory } & & 200 \\
• \hline
• \end{array}\]

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Definitions:

Konrad Lorenz

An Austrian zoologist known for his foundational work in ethology, the study of animal behavior, particularly imprinting.

Imprinting

A form of learning occurring at a specific life stage that is rapid and apparently independent of the consequences, leading to a long-lasting behavioral response.

Insecure Attachment

A type of attachment characterized by anxiety and uncertainty in relationships, often due to inconsistent caregiving responses in early life.

Attachment

Attachment is the emotional bond that forms between an individual, typically a child, and a caregiver, influencing the individual's behavioral and emotional development.