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Supplies bought on account were returned for credit and recorded with a debit to Accounts Payable and a credit to Merchandise Inventory. This error will
Supplies bought on account were returned for credit and recorded with a debit to Accounts Payable and a credit to Merchandise Inventory. This error will cause: A) the period end cost of goods sold to be overstated B) the period's net income to be understated C) the period end cost of goods sold to be understated D) None of these are correct
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