A Company That Uses a Perpetual Inventory System Purchased Inventory

question 21

Multiple Choice

A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $700 to the vendor.Which of the following would be the correct journal entry to record these returns?

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Definitions:

Language Development

Refers to the process by which children come to understand and communicate language during early childhood.

Expanding

The process of increasing in size, volume, quantity, or scope.

Language Acquisition

The method through which people develop the ability to notice, create, and employ words for the purpose of comprehension and interaction.

Echoing

The repetition of sounds, words, or phrases, often seen as a communicative behavior or auditory phenomenon.