Multiple Choice
Under a periodic inventory system, the entry to record the return of inventory sold on account for $360 with a cost of $210 would be recorded by the seller as a:
A) credit to Accounts Receivable for $210.
B) debit to Sales Returns and Allowances for $360.
C) debit to Sales Revenue for $360.
D) debit to Inventory for $210.
Correct Answer:
Verified
Correct Answer:
Verified
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