Question
4 . BendCo , which uses the periodic method, purchase s inventory for $2,500 cash. What is t he journal entry to book the return
4.BendCo, which uses the periodic method, purchasesinventory for $2,500 cash. What is the journal entry tobook the return of goods for $600 cash?
a.Cash600
Purchase Returns and Allowances600
b.Cash600
Sales600
c.Cash600
Merchandise Inventory600
d.Cash600
Cost of Goods Sold600
4.BendCo, which uses the periodic method, purchasesinventory for $2,500 cash. What is the journal entry tobook the return of goods for $600 cash?
a.Cash600
Purchase Returns and Allowances600
b.Cash600
Sales600
c.Cash600
Merchandise Inventory600
d.Cash600
Cost of Goods Sold600
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
9781285586618
