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gOOvER gOOvER
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6 years ago
Under a perpetual inventory system, the entry to record the return of inventory sold on account for $250 with a cost of $185 would be recorded by the seller as a:
A) debit to Accounts Receivable for $250.
B) debit to Sales Returns and Allowances for $185.
C) credit to Sales Revenue for $250.
D) credit to Cost of Goods Sold for $185.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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raovatallpyraovatallpy
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