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ABC company uses a periodic inventory system. ABC purchased $5,000 of inventory on account. The terms were 3/10, 1/30. The purchase was made on April
ABC company uses a periodic inventory system. ABC purchased $5,000 of inventory on account. The terms were 3/10, 1/30. The purchase was made on April 1. O return? a O A. Accounts Payable Purchase Returns and Allowances 500 500 5,000 4,500 500 OB. Accounts Payable Cash Purchase Returns and Allowances O C. Accounts Payable Purchase Discounts Purchases 4.500 500 5,000 500 OD. Accounts Payable Cash 500 Click to select your answer ht. The terms were 3/10,n/30. The purchase was made on April 1. On April 2. ABC returned $500 of damaged goods to the supplier. How should ABC record the
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