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.

Best apk References website

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.. Study with quizlet and memorize flashcards containing terms like general journal, purchases return, purchases allowance and more. The correct answer to the.

Chapter ppt download from slideplayer.com

The correct choice in this case is: When there is a return of merchandise to the vendor, it abates your original purchase thereby lessening your expense. A credit granted to a customer for merchandise that's damaged and not sold at the normal price.

Debit To Purchases Returns And Allowances

When a business returns merchandise to a vendor, it results in an accounting entry that reflects this action accurately in the financial records. Any credit granted to the customer would be called a a. When there is a return of merchandise to the vendor, it abates your original purchase thereby lessening your expense.

In Merchandising, A Return Occurs When A Customer Returns To The Seller Part Or All Of The Items Purchased.

Study with quizlet and memorize flashcards containing terms like general journal, purchases return, purchases allowance and more. Credit to purchases returns and allowances c. The correct choice in this case is:

When Merchandise Is Returned To Suppliers Or A Price Adjustment.

The purchaser issues a document called debit memo to request credit for returns and allowances and the seller issues a credit memo to notify its acceptance of the buyer’s request for credit. A customer notifies the vendor that purchased merchandise is damaged and cannot be sold at the normal price. A credit granted to a customer for merchandise that's damaged and not sold at the normal price.