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1 Select the correct analysis and entry for the following transaction for ABC On February 2, ABC purchased $8,250 of merchandise inventory on account,
1 Select the correct analysis and entry for the following transaction for ABC On February 2, ABC purchased $8,250 of merchandise inventory on account, terms 1/10,n/30. ABC returned $825 worth of goods on February 5. Select the option that best represents how ABC would record February 5 return. Option Account DR CR A Accounts Payable 8,250 Cash 8,250 Option Account DR CR B Accounts Payable 825 Inventory 825 Option Account DR H CR C Inventory www 8,250 Accounts Payable 8,250 Option Account D Sales Returns DR 825 CR Inventory 825 Option None of the Above E O Option A O Option B O Option C Option D
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