A Company That Uses a Perpetual Inventory System Purchased Inventory $$\begin{array} { | c | r | r | } \hline \text { Purchase Returns } & 600 & \\\hline \text { Accounts Payable } & & 600 \\\hline\end{array}$$

question 176

Multiple Choice

A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $600 to the vendor.Which of the following would be the correct journal entry to record these returns?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Purchase Returns } & 600 & \\
• \hline \text { Accounts Payable } & & 600 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Payable } & 600 & \\
• \hline \text { Purchase Returns } & & 600 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Merchandise Inventory } & 600 & \\
• \hline \text { Accounts Payable } & & 600 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Accounts Payable } & 600 & \\
• \hline \text { Merchandise Inventory } & & 600 \\
• \hline
• \end{array}\]

Grasp the role of technology in the evolution of HRM practices.

Recognize the importance of demographic, economic, social, and cultural factors in strategic HR planning.

Identify sources for staying current with HR and industry trends.

Understand competitive intelligence and its relevance in strategic planning.

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