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Knowledge Check $01$

A seller uses a perpetual Inventory system, and on April $18,$ a customer discovers that merchandise previously purchased is defective. The buyer decides to keep the defective merchandise and the seller allows a $$15$ price reduction, pald in cash to the buyer.

Complete the journal entry to record the allowance granted to the buyer by selecting the account names from the drop$-$down menus and entering the dollar amounts in the debit or credit columns.

Journal entry worksheet

$1$

A seller uses a perpetual inventory system, and on April $18,$ a customer discovers that merchandise previously purchased is defective. The buyer decides to keep the defective merchandise and the seller allows a $$15$ price reduction, paid in cash to the buyer.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$April $18,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$