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C Fong Returned $200 of Merchandise Within the Discount Period

Question 79

Multiple Choice

C. Fong returned $200 of merchandise within the discount period. The entry to record the return is


A) debit to Inventory for $200, credit Accounts Payable for $200.
B) debit to Inventory for $200, credit Cost of Goods Sold for $200.
C) debit to Accounts Payable for $200, credit Inventory for $200.
D) debit to Accounts Payable for $200, credit Cash for $200.

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