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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
Randy, a customer of Classics Company, returned $45 of goods that were purchased on account. Under the perpetual inventory system, Classics will record a:
A) debit to Sales Returns and Allowances and a credit to Accounts Receivable-Randy for $45.
B) debit to Sales and a credit to Accounts Receivable-Randy for $45.
C) debit to Cost of Goods Sold and a credit to Inventory for $45.
D) debit to Sales and a credit to Cost of Goods Sold for $45.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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tivo Author
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#2
7 years ago
Luckily this is the last business course I'll be taking. Thank you greatly
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