The journal entry by the buyer to record a return of merchandise purchased on account under a perpetual inventory system would credit
A) Accounts Payable.
B) Purchase Returns and Allowances.
C) Sales.
D) Inventory.

Question

Quizplus · Accepted Answer

The Answer of The journal entry by the buyer to record a return of merchandise purchased on account under a perpetual inventory system would credit
A) Accounts Payable.
B) Purchase Returns and Allowances.
C) Sales.
D) Inventory.

The Journal Entry by the Buyer to Record a Return