Question: Under a perpetual inventory system, when goods are returned to the retailer from a customer: Debit Cost of Goods Sold and credit Sales Returns and

Under a perpetual inventory system, when goods are returned to the retailer from a customer:
Debit Cost of Goods Sold and credit Sales Returns and Allowances
Debit Sales and credit Cost Goods Sold
Debit Inventory and credit Sales
Debit Sales Returns and Allowances and credit Cost of Goods Sold

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