Multiple Choice
Nice Guys Apparel received a $200 credit memorandum as an allowance for goods that it returned to one of its suppliers.Identify the statement below that would be correct when posting the transaction.
A) A debit of $200 would be posted to the supplier's account in the accounts payable ledger.
B) A debit of $200 would be posted to the supplier's account in the accounts receivable ledger.
C) A credit of $200 would be posted to the Accounts Receivable account in the general ledger.
D) A credit of $200 would be posted to the Purchases account in the general ledger.
Correct Answer:
Verified
Correct Answer:
Verified
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