#21,22

Please correct wrong answers

21. Office Supplies (not used for resale) bought on account were returned for credit and recorded with a debit to Accounts Payable and a credit to Purchase Returns and Allowances. This error will cause: net income to be overstated net income to be understated net income to not be affected total assets to be understated a. b. 22. Returned merchandise paid for within the discount period for cash. The perpetual inventory system is in use. This will be recorded with a debit to a(n): aliability and a credit to an asset asset and a credit to an asset expense and a credit to a liability expense and a credit to an asset c. d