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The entry to record the return of $300 of supplies purchased on account would be: Debit Accounts Payable 300 Credit Capital 300 Debit Accounts Payable
The entry to record the return of $300 of supplies purchased on account would be: Debit Accounts Payable 300 Credit Capital 300 Debit Accounts Payable 300 Credit Supplies 300 Debit Supplies 300 Credit Accounts Payable 300 Debit Cash 300 Credit Supplies 300
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