Multiple Choice
To record a return of merchandise purchased for cash on the books of the buyer, the accountant would:
A) debit Purchases Returns and Allowances and credit Cash.
B) debit Purchases and credit Purchases Returns and Allowances.
C) debit Purchases Returns and Allowances and credit Purchases.
D) debit Cash and credit Purchases Returns and Allowances.
Correct Answer:
Verified
Correct Answer:
Verified
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