Assume the perpetual inventory method is used.

The company purchased $$13,400$ of merchandise on accol

The company returned $$2,900$ of merchandise to the supp

The liability was paid within the discount period.

All of the merchandise purchased was sold for $$20,800$ c

What effect will the return of merchandise to the supplier ha

Multiple Choice

Assets and stockholders' equity are decreased b

None. It is an asset exchange transaction.