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Fast2F Fast2F
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7 years ago
A credit customer purchased $450 worth of items. Two days later, the customer returned $300 worth of those items. The entry to record this under the perpetual inventory method would include:
A) a credit to Merchandise Inventory for our cost.
B) a debit to Cost of Goods Sold for our cost.
C) a credit to Sales Returns and Allowances $300
D) a debit to Sales Returns and Allowances $300
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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OmpaOmpa
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7 years ago
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Fast2F Author
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#2
7 years ago
I wish I would have known about this service with my other classes.
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