Multiple Choice
Marc's Cleaning Services purchased merchandise inventory on account for $500.This transaction was properly recorded.A week later,Marc's Cleaning Services discovered a defect in the merchandise inventory and returned the merchandise inventory to the supplier for credit.As the accountant,you would tell the bookkeeper to record the return of the merchandise inventory by
A) debiting Merchandise Inventory and crediting Accounts Payable for $500.
B) debiting Accounts Payable and crediting Merchandise Inventory for $500.
C) debiting Merchandise Inventory and crediting Cash for $500.
D) debiting Cash and crediting Merchandise Inventory for $500.
E) debiting Cash and crediting Accounts Payable for $500.
Correct Answer:

Verified
Correct Answer:
Verified
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