Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
H3Ko H3Ko
wrote...
Go to Answer
Posts: 4891
Rep: 45 0
7 years ago
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
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
Read 121 times
3 Replies
Replies
Answer verified by a subject expert
Mrgo-breedMrgo-breed
wrote...
#1
Top Poster
Posts: 2227
Rep: 276 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

H3Ko Author
wrote...
#2
7 years ago
I just realized you had posted this! Thanks so much
wrote...
#3
7 years ago
Excellent Slight Smile
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1248 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 629
  
 26
  
 597
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 292
Previous poll results: What's your favorite math subject?