Asked by
Diamond Smith
on Nov 15, 2024
Verified
H.R. Camping sold goods for $200 to a charge customer. The customer returned for credit $100 worth of goods. Which entry is required to record the return transaction?
A) Debit Sales Returns and Allowances $100 credit Accounts Receivable $100
B) Debit Sales Returns and Allowances $100; credit Sales $100
C) Debit Sales $100; credit Sales Returns and Allowances $100
D) Debit Accounts Receivable $100; credit Sales Returns and Allowances $100
Sales Returns
Transactions in which customers return goods previously purchased and receive a refund or credit.
Accounts Receivable
Customers' outstanding dues to a company for previously furnished goods or services.
- Comprehend the methods involved in managing and documenting the return of goods from clients.
Verified Answer
MK
Learning Objectives
- Comprehend the methods involved in managing and documenting the return of goods from clients.