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The journal entry to record purchase returns and allowances under the perpetual inventory system is: A . Dr Cash / Accounts payable Cr Purchase returns
The journal entry to record purchase returns and allowances under the perpetual inventory system is:
A Dr CashAccounts payable
Cr Purchase returns and allowances
B Dr Purchase returns and allowances
Cr CashAccounts payable
C Dr Purchase returns and allowances Cr Merchandise inventory
D Dr CashAccounts payable
Merchandise inventory
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