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Fast2F Fast2F
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6 years ago
Office Supplies (not used for resale) bought on account were returned for credit and recorded with a debit to Accounts Payable and a credit to Purchase Returns and Allowances. This error will cause:
A) net income to not be affected.
B) total assets to be understated.
C) net income to be overstated.
D) net income to be understated.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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LaffioLaffio
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6 years ago
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Fast2F Author
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6 years ago
Good timing, thanks!
kc123
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Yesterday
Smart ... Thanks!
DAGINC
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2 hours ago
Correct Slight Smile TY
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