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on april, fair coffee, incorportated purchased merchandise with a list price of $1,000 and credit terms 2/10,n/30. April 6, Fair Coffee returns $200 of the
on april, fair coffee, incorportated purchased merchandise with a list price of $1,000 and credit terms 2/10,n/30. April 6, Fair Coffee returns $200 of the merchandise. Assuming fair coffee uses a perpetual inventory system, the journal entry on April 6, to record the return, would be:
OPTION A) CREDIT 9 DEBIT 200 200 B) 200 ACCOUNT TITLE Accounts Payable Cash Accounts Payable Purchase Returns and Allowances Purchase Returns and Allowances Accounts Payable Accounts Payable Merchandise Inventory 200 C) 200 200 D) 200 eBook 200 Ask Multiple Choice Print References Option A. Option B Option Option D Step by Step Solution
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