Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If your company records merchandise returns to suppliers in the general journal, then a.) A posting must be made only to the accounts payable subsidiary

If your company records merchandise returns to suppliers in the general journal, then
a.) A posting must be made only to the accounts payable subsidiary ledger account
b.) A dual posting must be made
c.) there will be a debit to inventory
d.) A posting must be made only to the accounts payable control account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

OPTION B Dual posting must be made your company records merc... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater

12th edition

978-0132772068, 133468100, 013277206X, 9780133468106, 978-0133133233

More Books

Students also viewed these Accounting questions

Question

Record the transactions in SE 5 in the general journal for 2011.

Answered: 1 week ago

Question

Explain what is meant by financing activities.

Answered: 1 week ago