Question: Question 4 (3 points) A merchandiser returned inventory worth $1,400 that was purchased on account. Under the perpetual inventory system, the journal entry to record
Question 4 (3 points) A merchandiser returned inventory worth $1,400 that was purchased on account. Under the perpetual inventory system, the journal entry to record the return would include A) a debit to Accounts Payable for $1,400 and a $1,400 credit to Inventory B) a debit to Inventory for $1,400 and a credit to Accounts Payable for $1,400 C) a debit to Accounts Payable for $1,400 and a credit to Cash for $1.400 D) a debit to Cash for $1,400 and a credit to Accounts Payable for $1.400
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