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A customer returned merchandise, with a selling price of $2.400 purchased on account, to a furniture store. Ignoring the cost of goods retumed, which
A customer returned merchandise, with a selling price of $2.400 purchased on account, to a furniture store. Ignoring the cost of goods retumed, which journal entry should the furniture store prepare? Assume no discounts were offered OA. Debit Sales Refunds Payable for $2.400 and credit Sales Revenue for $2,400. OB. Debt Sales Revenue for $2,400 and credit Sales Refunds Payable for $2.400 OC. Debit Sales Refunds Payable for $2.400 and credit Accounts Receivable for $2.400 OD Debit Sales Revenue for $2,400 and credit Cash for $2,400.
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