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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
A merchandiser returned inventory worth $2,000 that was purchased on account. Under the periodic inventory system, the journal entry to record the return would include ________.
A) a debit to Purchases for $2,000 and a credit to Accounts Payable for $2,000
B) a debit to Accounts Payable for $2,000 and a $2,000 credit to Purchase Returns and Allowances
C) a debit to Accounts Payable for $2,000 and a credit to Purchases for $2,000
D) a debit to Purchase Returns and Allowances for $2,000 and a credit to Accounts Payable for $2,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
7 years ago
Happy to help Smiling Face with Open Mouth
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