Bryson Company Records Returns and Allowances in the General Journal

question 72

Multiple Choice

Bryson Company records returns and allowances in the general journal.On 25 June,Bryson issued a $120 debit note for goods purchased on credit from Crimson because part of what was sent was not what Bryson ordered.What entry does Bryson make? Ignore GST and assume a perpetual inventory system.

• A)Accounts payable-Crimson 120 Inventory 120
• B)No entry is required by Bryson.
• C)Accounts payable-Crimson 120 Accounts receivable-Crimson 120
• D)Accounts receivable-Crimson 120 Sales returns and allowances 120

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