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On February 20, a buyer returns $5,000 worth of goods to a seller due to a product defect and receives a $5,000 refund. The seller
On February 20, a buyer returns $5,000 worth of goods to a seller due to a product defect and receives a $5,000 refund. The seller should create a journal entry that does what? Debits Sales and credits Accounts Receivable Debits Accounts Receivable and credits Sales Debits Accounts Payable and credits Inventory Debits Sales and credits Inventory
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Introductory Financial Accounting For Business
Authors: Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Jennifer Edmonds, Philip Olds
2nd Edition
1260575306, 978-1260575309
