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The journal entry to record a return of merchandise purchased on account under a periodic inventory system would be a. Debit -accounts payable Credit -
The journal entry to record a return of merchandise purchased on account under a periodic inventory system would be
a. Debit -accounts payable Credit - purchase return and allowances
b. Debit - purchases returns and allowances Credit - Accounts payable
c. Debit - accounts payable Credit - merchandise inventory
d. Debit - Merchandise inventory Credit - accounts payable
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