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Title: The company returned $400 of damaged merchandise purchased on credit. The entry to record this under ... Post by: Fast2F on Jun 6, 2017 The company returned $400 of damaged merchandise purchased on credit. The entry to record this under the periodic inventory method is:
A) debit Accounts Payable $400; credit Purchases Returns and Allowances $400. B) debit Merchandise Inventory $400; credit Accounts Payable $400. C) debit Accounts Payable $400; credit Merchandise Inventory $400. D) debit Cost of Goods Sold $400; credit Accounts Payable $400. Title: Re: The company returned $400 of damaged merchandise purchased on credit. The entry to record this ... Post by: keytwo on Jun 6, 2017 Content hidden
Title: Re: The company returned $400 of damaged merchandise purchased on credit. The entry to record this under ... Post by: Fast2F on Jul 18, 2017 I was skeptical at first but decided to give this a try.
Happy I did, you guys are so smart |