Question: When merchandise that was sold on account is returned, using the perpetual inventory system which accounts are affected in the books of the seller? Select

When merchandise that was sold on account is returned, using the perpetual inventory system which accounts are affected in the books of the seller?

Select one:

a. Sales returns, accounts receivable, purchases, and inventory

b. Sales returns, accounts receivable, purchases, and cost of goods sold

c. Cash, accounts receivable, cost of goods sold, and sales returns

d. Sales returns, accounts receivable, inventory, and cost of goods sold

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