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A Company That Uses a Perpetual Inventory System Purchased Inventory  Purchase Returns 100 Accounts Payable 100\begin{array} { | c | r | r | } \hline \text { Purchase Returns } & 100 & \\\hline \text { Accounts Payable } & & 100 \\\hline\end{array}

question 256

Multiple Choice

A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $100 to the vendor. Which of the following would be the correct journal entry to record these returns?


Definitions:

Recount

The process of counting votes again, usually in circumstances where the results are disputed or the margin of victory is very small.

Andrew Johnson

The 17th President of the United States, who served from 1865 to 1869, significant for his turbulent presidency and impeachment after the American Civil War.

Bill Clinton

The 42nd President of the United States who served from 1993 to 2001.

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