A customer returns $870 worth of merchandise and receives a full refund. What accounts recognize this sales
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A customer returns $870 worth of merchandise and receives a full refund. What accounts recognize this sales return (disregarding the merchandise condition entry) if the return occurs before the customer remits payment to the retailer?
A. Accounts receivable, sales returns and allowances
B. Accounts receivable, cash
C. Sales returns and allowances, merchandise inventory
D. Accounts receivable, cost of goods sold
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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