AP-3A

AP-2A LO 3 JB Supermarkets bought $3,000 worth of groceries on account from a produce supplier on May 10, 2018. On May 11, JB's bookkeeper was informed that $200 worth of tomatoes was substandard and returned to the supplier. Prepare the journal entry to record the purchase return using the perpetual inventory system. Credit Date May 1l Debit 200 Account Title and Explanation Accounts Payable Inventory Record the purchase return 200 AP-3A LOS Refer to AP-2A and record the purchase return assuming JB Supermarkets uses a periodic inventory system. Date Account Title and Explanation Debit Credit 272