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Other Fields Homework Help Accounting Topic started by: H3Ko on Aug 29, 2016



Title: Which of the following is the correct journal entry for a return of goods that were purchased on ...
Post by: H3Ko on Aug 29, 2016
Which of the following is the correct journal entry for a return of goods that were purchased on account under the periodic inventory system?

A) Merchandise Inventory   XX   
       Accounts Payable      XX

B) Accounts Payable   XX   
       Purchase Returns and
       Allowances      XX

C) Purchase Returns and Allowances   XX   
       Accounts Payable      XX

D) Accounts Payable   XX   
      Merchandise Inventory      XX


Title: Re: Which of the following is the correct journal entry for a return of goods that were purchased on ...
Post by: Mrgo-breed on Aug 29, 2016
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Title: Re: Which of the following is the correct journal entry for a return of goods that were purchased on ...
Post by: H3Ko on Oct 12, 2016
I just realized you had posted this! Thanks so much


Title: Re: Which of the following is the correct journal entry for a return of goods that were purchased on ...
Post by: Mrgo-breed on Oct 16, 2016
Excellent :)