Feathertouch Company Sold Merchandize Worth $800 on Credit,terms N/15 and on the Next

question 171

Multiple Choice

Feathertouch Company sold merchandize worth $800 on credit,terms n/15 and on the next day the customer returned merchandize worth $50,which cost $30 for Feathertouch company.What is the required journal entry to record the merchandize returns under the perpetual inventory system?

• A)
• \(\begin{array}{lll}
• \text { Accounts Receivables } & 50 \\
• \quad \text { Sales Returns and Allowances } & & 50 \\\\
• \text { Cost of Goods Sold }&30 \\
• \text { Merchandize Inventory }&& 30
• \end{array}\)
• B)
• \(\begin{array}{lll}
• \text { Sales Returns and Allowances } & 50 \\
• \quad \text { Accounts Receivables} & & 50 \\\\
• \text { Merchandize Inventory}&30 \\
• \text { Cost of Goods Sold }&& 30
• \end{array}\)
• C)
• \(\begin{array}{lll}
• \text { Accounts Receivables }&50 \\
• \text { Merchandize Inventory }&&50\\\\
• \text { Cost of Goods Sold }&30 \\
• \text { Sales }&&30
• \end{array}\)
• D)
• \(\begin{array}{lcc}
• \text { Merchandize Inventory } &50\\
• \quad \text { Sales }&&50\\\\
• \text { Sales } & 30 & \\
• \quad \text { Cost of Goods Sold } & & 30
• \end{array}\)

Identify the ethical considerations in business decisions, including outcome-based ethics and duty-based ethics.

Appreciate the importance of ethical decision-making processes and theories, such as utilitarianism and the principle of rights theory, in business contexts.

Understand the challenges and complexities in interpreting and applying laws ethically in business decisions.

Recognize the role of ethical codes and conduct in shaping business practices and decision-making.

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