Feathertouch Company Sold Merchandise Worth $800 on Credit,terms N/15 and the Next

Multiple Choice

Feathertouch Company sold merchandise worth $800 on credit,terms n/15 and the next day the customer returned merchandise worth $50,which cost $30 for Feathertouch company.What is the required journal entry to record the merchandise returns under the perpetual inventory system?

A) Accounts Receivable 50
Sales Returns and Allowances 50
Cost of Goods Sold 30
Merchandise Inventory 30
B) Sales Returns and Allowances 50
Accounts Receivable 50
Merchandise Inventory 30
Cost of Goods Sold 30
C) Accounts Receivable 50
Merchandise Inventory 50
Cost of Goods Sold 30
Sales 30
D) Merchandise Inventory 50
Sales 50
Sales 30
Cost of Goods Sold 30