1. a return of merchandise to the vendor results in a (a) debit to purchases. (b) credit to purchases returns and allowances. (c) credit to purchases. (d) debit to purchases returns and allowances.
1. A Return Of Merchandise To The Vendor Results In A (A) Debit To Purchases. (B) Credit To Purchases Returns And Allowances. (C) Credit To Purchases. (D) Debit To Purchases Returns And Allowances.
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1. A Return Of Merchandise To The Vendor Results In A (A) Debit To Purchases. (B) Credit To Purchases Returns And Allowances. (C) Credit To Purchases. (D) Debit To Purchases Returns And Allowances.. Credit to purchases returns and allowances c. A customer notifies the vendor that purchased merchandise is damaged and cannot be sold at the normal price.
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A return occurs when inventory is purchased and later returned to the seller. When a company returns merchandise to the vendor, it results in certain accounting entries to reflect this action. Therefore, the correct journal entry would involve a credit to purchases returns and allowances which represents the reduction in purchases or purchase expense due to the.
The Correct Choice In This Case Is:
It is not shown in the. The purchase of supplies on account results in a, 3. A return of merchandise to the vendor results in a a.
Debit To Purchases Returns And Allowances
When this happens, the purchaser no longer has the merchandise. This written information is called a. A return occurs when inventory is purchased and later returned to the seller.
Credit To Purchases Returns And Allowances C.
A customer notifies the vendor that purchased merchandise is damaged and cannot be sold at the normal price. A return of merchandise to the vendor results in a, 2. Therefore, the correct journal entry would involve a credit to purchases returns and allowances which represents the reduction in purchases or purchase expense due to the.
When A Company Returns Merchandise To The Vendor, It Results In Certain Accounting Entries To Reflect This Action.
When merchandise is returned to suppliers or a price adjustment (allowance) is requested, the buyer usually contacts the supplier in writing. Study with quizlet and memorize flashcards containing terms like 1. Any credit granted to the customer would be called a a.
Return Outwards Or Purchase Returns Are Shown In The Trading Account As An Adjustment (Reduction) From The Total Purchases For An Accounting Period.
A credit granted to a customer for merchandise that's damaged and not sold at the normal price.
