Question: Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a a. debit to Merchandise

Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a a. debit to Merchandise Inventory b. credit to Merchandise Inventory c. credit to Customer Refunds Payable Od. debit to Cash
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
