A Company That Uses a Perpetual Inventory System Purchased Inventory $$\begin{array} { | c | r | r | } \hline \text { Purchase Returns } & 500 & \\\hline \text { Accounts Payable } & & 500 \\\hline\end{array}$$

A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $500 to the vendor.Which of the following would be the correct journal entry to record these returns?

A) $$\begin{array} { | c | r | r | } \hline \text { Purchase Returns } & 500 & \\\hline \text { Accounts Payable } & & 500 \\\hline\end{array}$$
B) $$\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 500 & \\\hline \text { Purchase Returns } & & 500 \\\hline\end{array}$$
C) $$\begin{array} { | c | r | r | } \hline \text { Merchandise Inventory } & 500 & \\\hline \text { Accounts Payable } & & 500 \\\hline\end{array}$$
D) $$\begin{array} { | c | r | r | } \hline \text { Accounts Payable } & 500 & \\\hline \text { Merchandise Inventory } & & 500 \\\hline\end{array}$$