Five days after a cash sale for $2,000 was made and recorded, Alpha's customer returned merchandise...

 

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Five days after a cash sale for $2,000 was made and recorded, Alpha's customer returned merchandise for cash. Alpha did not record a journal entry for the return. The gross profit percent was 30%. Alpha uses the perpetual inventory system. What corrections, if any, should be made to the trial balance? Debit Column [Select] Credit Column [Select] Five days after a cash sale for $2,000 was made and recorded, Alpha's customer returned merchandise for cash. Alpha did not record a journal entry for the return. The gross profit percent was 30%. Alpha uses the perpetual inventory system. What corrections, if any, should be made to the trial balance? Debit Column [Select] Credit Column [Select]

Answer rating: 100% (QA)

To correct Alphas trial balance for the merchandise return you should mak... View the full answer