Question
If my customer, who purchased on account, returns goods to me that are damaged, my journal entry to record the returns is to debit Inventory
If my customer, who purchased on account, returns goods to me that are damaged, my journal entry to record the returns is to debit Inventory and credit Accounts Receivable, as well as an entry to debit Sales and credit Cost of Goods Sold.
a. TRUE
b. FALSE
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Financial and managerial accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
1st edition
111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114
