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Bella Inc. purchased $12,000 worth of merchandise on January 1, 2019 on credit. After inspecting the inventory it determined that 10% of the items were
Bella Inc. purchased $12,000 worth of merchandise on January 1, 2019 on credit. After inspecting the inventory it determined that 10% of the items were defective. It returned these goods to the supplier. The journal entry to record the return in a perpetual inventory system includes O A debit to Purchases for $1,200 O A debit to Purchases Returns for $1,200 O A credit to Merchandise inventory for $1,200 O A credit to Purchases Returns for $1,200
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