Question: Under a perpetual inventory system, the journal entry to record the return of goods you had previously purchased on account was recorded with a debit

Under a perpetual inventory system, the journal entry to record the return of goods you had previously purchased on account was recorded with a debit to Accounts Payable and a credit to Inventory. This entry is: Multiple choice question. incorrect and will cause assets to be understated incorrect and will cause assets to be overstated correct incorrect and will cause liabilities to overstated

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