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majestico majestico
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6 years ago
Under the perpetual inventory system, in addition to making the entry to record a return of goods from a customer, a company would:
A) debit Cost of Goods Sold and credit Merchandise Inventory.
B) debit Sales and credit Cost of Goods Sold.
C) debit Merchandise Inventory and credit Cost of Goods Sold.
D) debit Purchases and credit Cost of Goods Sold.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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6 years ago
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majestico Author
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#2
6 years ago
Yeah, makes a lot more sense. Appreciate this quite a lot
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