A Debit to Sales Returns and Allowances and a Credit

question 231

Multiple Choice

A debit to Sales Returns and Allowances and a credit to Accounts Receivable:

• A)Reflects an increase in amount due from a customer.
• B)Recognizes that a customer has returned merchandise and/or received an allowance.
• C)Requires a debit memorandum to recognize the customer's return.
• D)Is recorded when a customer takes a discount.
• E)Reflects a decrease in amount due to a supplier.

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Definitions:

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Medications or substances intended to reduce levels of cholesterol in the blood to prevent cardiovascular diseases.

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