When a customer returns a defective product for credit,the seller would record the transaction using the Purchase Returns and Allowances account.
BT: Knowledge

Name: When a customer returns a defective product for credit,the seller would record the transaction using the Purchase Returns and Allowances account. BT: Knowledge
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Question

Quizplus · Accepted Answer

The seller would use the Sales Returns and Allowances account, not the Purchase Returns and Allowances account, which is used by the buyer.

When a Customer Returns a Defective Product for Credit,the Seller