The entry to record the return of merchandise from a customer would include a debit to Sales credit to Sales debit to Customer Refunds Payable debit to Estimated Returns Inventory
The entry to record the return of merchandise from a customer would include a debit to Sales credit to Sales debit to Customer Refunds Payable debit to Estimated Returns Inventory
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 24MC: Which of the following accounts are used when recording a purchase using a periodic inventory...
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The entry to record the return of merchandise from a customer would include a
debit to Sales
credit to Sales
debit to Customer Refunds Payable
debit to Estimated Returns Inventory
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