Kasper Shack,Inc $\begin{array}{lll}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\{\text { Cash }} & 1,300 & \\\text { Merchandise Inventory } & &1,300 & \\\end{array}$

Multiple Choice

Kasper Shack,Inc.acquired merchandise inventory for $1,300 cash on January 12^th.On January 21^st,it noticed that the wrong merchandise had been shipped and returned it to the supplier for a cash refund.Which of the following is the journal entry that would be required for the return of the merchandise on January 21^st?

A) $\begin{array}{lll}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\{\text { Cash }} & 1,300 & \\\text { Merchandise Inventory } & &1,300 & \\\end{array}$

B) $\begin{array}{lccc}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text { Merchandise Inventory } & 1,300 & \\\quad \text { Cash } & & 1,300\\\end{array}$

C) $\begin{array}{lccc}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text { Accounts Payable } & 1,300 & \\\quad \text { Merchandise Inventory } & & 1,300\\\end{array}$

D) $\begin{array}{lccc}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text { Merchandise Inventory } & 1,300 & \\\quad \text { Accounts Payable } & & 1,300\\\end{array}$

E) $\begin{array}{lccc}\text { } & \mathrm{Dr.}& \mathrm{Cr.}\\\text { Cash } & 1,300 & \\\quad \text { Accounts Payable } & & 1,300\\\end{array}$