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Home Q & A Board Other Fields Homework Help Business Accounting
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harra harra
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6 years ago
Under a periodic inventory system, the entries to record a $3,400 sales return for undamaged goods on an original cash sale when the merchandise had a cost of $1,500 include a debit to:
A) Accounts Receivable of $3,400.
B) Cost of Goods Sold of $1,500.
C) Sales Returns and Allowances of $3,400.
D) Inventory of $1,500.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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KryzenKryzen
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6 years ago
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harra Author
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#2
6 years ago
Very timely, excellent answer
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