A retailer returns $400 worth of inventory to a manufacturer and receives a full refund. What accounts
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A retailer returns $400 worth of inventory to a manufacturer and receives a full refund. What accounts recognize this return before the retailer remits payment to the manufacturer?
A. Accounts payable, merchandise inventory
B. Accounts payable, cash
C. Cash, merchandise inventory
D. Merchandise inventory, cost of goods sold
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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