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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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6 years ago
Office Supplies bought on account were returned for credit and recorded with a debit to Accounts Payable and a credit to Merchandise Inventory. This error would cause:
A) the period end Cost of Goods Sold to be overstated.
B) the period's net income to be overstated.
C) the period end Cost of Goods Sold to be understated.
D) None of these is correct.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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OmpaOmpa
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6 years ago
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upton Author
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6 years ago
Thanks
loki1345
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Brilliant ツ
bahajo
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2 hours ago
Thanks for your help!!
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