A company using a perpetual inventory system that returns goods previously purchased on credit would 1-debit Accounts
Fantastic news! We've Found the answer you've been seeking!
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 and credit Accounts Payable
3- debit Accounts Payable and Credit Purchases.
4- debit Sales and credit Accounts Payable
Expert Answer:
Related Book For 
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
