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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
Bryson Company records returns and allowances in the general journal. On June 25, Bryson issued a $120 debit memo for merchandise purchased on credit from Crimson Company because part of the merchandise that was sent was not what Bryson ordered. What entry does Bryson make assuming a perpetual inventory system?
A)
Accounts Payable-Crimson Company   120   
      Purchase Returns and Allowances      120

B)
Accounts Payable-Crimson Company   120   
      Inventory      120

C)
Accounts Receivable-Crimson Company   120   
      Sales Returns and Allowances      120

D)
Accounts Payable-Crimson Company   120   
      Accounts Receivable-Crimson Company      120
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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HanoiHanoi
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harra Author
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#2
6 years ago
Great answer
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