Business

Malachi Berger

7 April, 22:33

Tyler returned $500 worth of merchandise within the discount period. The entry to record the return is which of the following?

A. Debit Purchases for $500; credit Accounts Payable $500 B. Debit Purchases for $500; credit Purchases Returns and Allowances $500 C. Debit Accounts Payable/Suppliers Name for $500; credit Purchases Returns and Allowances for $500 D. Debit to Accounts Payable for $500, credit Purchases Discount for $500

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