$10$

merchandise on August $7$ with terms $\frac{1}{10},\frac{n}{30}.$ On August $11,$ it returned $$1,500$ worth of merchandise. On August $26,$ it paid the full amount due. The correct journal entry to record the merchandise return on August $11$ is:

$1$

points

Multiple Choice

$00$:$11$:$58$

eBook

Debit Accounts Payable $$1,500$; credit Cash $$1,500.$

Debit Merchandise Inventory $$1,500$; credit Sales Returns and Allowances $$1,500.$

Debit Merchandise Inventory $$1,500$; credit Cash $$1,500.$

Debit Accounts Payable $$1,500$; credit Merchandise Inventory $$1,500.$