Question
On May 7, 20x6, Childrens Fashions sold $186 worth of clothing to a customer on credit. On May 14, the customer returned $28 worth of
On May 7, 20x6, Childrens Fashions sold $186 worth of clothing to a customer on credit. On May 14, the customer returned $28 worth of clothes that they decided they did not like, and the customers account was credited for the cost of the clothes. How would the return transaction be posted?
It would be posted in the general ledger only.
It would be posted in both the general ledger and the purchases ledger.
It would be posted in both the general ledger and the accounts receivable subsidiary ledger.
It would be posted in the accounts receivable subsidiary ledger only.
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
