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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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7 years ago
After Sally purchased $5,000 of merchandise from Bob, Sally discovered $500 of defective merchandise. Record the entry for the return. The company uses the gross method, the periodic method and the voucher system.
A) Vouchers Payable   4,500
Purchases Returns & Allow.      500
Vouchers Payable   5,000

B) Vouchers Payable   5,000
    Vouchers Payable   4,500
Purchases Returns & Allow.   500

C) Vouchers Payable   500
Vouchers Payable   500

D) None of these answers is correct.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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OmpaOmpa
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