Under a Periodic Inventory System, the Entries to Record a $3,400

Multiple Choice

Under a periodic inventory system, the entries to record a $3,400 sales return for undamaged goods on an original cash sale when the merchandise had a cost of $1,500 include a debit to:

A) Accounts Receivable of $3,400.
B) Cost of Goods Sold of $1,500.
C) Sales Returns and Allowances of $3,400.
D) Inventory of $1,500.