A Merchandiser Returned Inventory Worth $1,900 That Was Purchased on Account.In

question 175

Multiple Choice

A merchandiser returned inventory worth $1,900 that was purchased on account.In a periodic inventory system,the journal entry to record the return would include ________.

• A) a debit to Purchase Returns and Allowances for $1,900 and a credit to Accounts Payable for $1,900
• B) a debit to Accounts Payable for $1,900 and a $1,900 credit to Purchase Returns and Allowances
• C) a debit to Purchases for $1,900 and a credit to Accounts Payable for $1,900
• D) a debit to Accounts Payable for $1,900 and a credit to Purchases for $1,900

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Definitions:

National Bank System

A network of banks chartered by the federal government in the United States, established to create a stable, national currency and improve the government's control over the economy.

Modern War

Warfare characterized by the use of current technology and tactics, involving nations or groups, and often including cyber warfare and advanced weapons systems.

Industrial Technology

The application of engineering and manufacturing technology to make production faster, simpler, and more efficient.