ting: A Contemporary Approach - Haddock, Price, and Farina. 4e, Accounting for Purchases, Accounts Payable, and Cash Paymer A company received a credit memorandum for $100 from a supplier for defective product returned. Using a periodic inventory system, this transaction would be recorded with a credit to the - account. Click the answer you think is right. purchases returns & allowances merchandise inventory purchases Do you know the answer? Read about this I know it Think so Unsure No idea 24 nong the A company received a credit memorandum for $100 from a supplier for defective product returned. Using a periodic inventory system, this transaction would be recorded with a credit to the account. Click the answer you think is right. purchases returns & allowances merchandise inventory purchases