On July 6 Theo Corp. returned $12,000 of undamaged inventory it had originally purchased on account....

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On July 6 Theo Corp. returned $12,000 of undamaged inventory it had originally purchased on account. Assuming Theo Corp. had not paid for the goods yet, the journal entry recorded by Theo Corp. on July 6 would be A. a debit to Sales Returns and Allowances and a credit to Inventory. B. the debit to Inventory and a credit to Sales Returns and Allowances. C. a debit to Inventory and a credit to Cost of Goods Sold. D. a debit to Accounts Payable and a credit to Inventory. On July 6 Theo Corp. returned $12,000 of undamaged inventory it had originally purchased on account. Assuming Theo Corp. had not paid for the goods yet, the journal entry recorded by Theo Corp. on July 6 would be A. a debit to Sales Returns and Allowances and a credit to Inventory. B. the debit to Inventory and a credit to Sales Returns and Allowances. C. a debit to Inventory and a credit to Cost of Goods Sold. D. a debit to Accounts Payable and a credit to Inventory.