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An inventory Item that was purchased for $100.00 on account was returned to the vendor (wholesaler). How do you record the transaction? Debit Credit A.
An inventory Item that was purchased for $100.00 on account was returned to the vendor (wholesaler). How do you record the transaction?
| Debit | Credit |
A. Merchandise Inventory | $100.00 |
|
Accounts Payable |
| $100.00 |
|
|
|
B. Office Supplies | $100.00 |
|
Merchandise Inventory |
| $100.00 |
|
|
|
C. Accounts Payable | $100.00 |
|
Merchandise Inventory |
| $100.00 |
|
|
|
D. Merchandise Inventory | $100.00 |
|
Office Supplies |
| $100.00 |
A |
B |
D |
C |
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