On October 5, Golden Rams Company returned $15,000 of merchandise because of damages. What is the...
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On October 5, Golden Rams Company returned $15,000 of merchandise because of damages. What is the journal entry to record this transaction on October 5? Debit--Accounts Payable, 14,700; Credit--Merchandise Inventory, 14,700 Debit--Accounts Payable, 15,000; Credit- -Cash, 15,000 O Debit--Accounts Payable, 15,000; Credit- -Merchandise Inventory, 15,000 Debit--Cash, 15,000; Credit- -Purchases, 15,000. On October 5, Golden Rams Company returned $15,000 of merchandise because of damages. What is the journal entry to record this transaction on October 5? Debit--Accounts Payable, 14,700; Credit--Merchandise Inventory, 14,700 Debit--Accounts Payable, 15,000; Credit- -Cash, 15,000 O Debit--Accounts Payable, 15,000; Credit- -Merchandise Inventory, 15,000 Debit--Cash, 15,000; Credit- -Purchases, 15,000.
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Answer is B Debit Accounts Payable 15000 Credit Merchandise Inventory 15000 ... View the full answer
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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