Question: A company using a perpetual inventory system that returns goods previously purchased on credit would 1-debit Accounts Payable and credit Merchandise Inventory 2- debit Cash

A company using a perpetual inventory system that returns goods previously purchased on credit would

1-debit Accounts Payable and credit Merchandise Inventory

2- debit Cash and credit Accounts Payable

3- debit Accounts Payable and Credit Purchases.

4- debit Sales and credit Accounts Payable

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