Asked by

Diamon Hawkins
on Dec 16, 2024

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When a seller grants credit for returned goods the account that is credited is

A) Sales Revenue.
B) Sales Returns and Allowances.
C) Inventory.
D) Accounts Receivable.

Sales Returns

Transactions where customers return defective, unsatisfactory or unwanted products back to the seller, resulting in a reversal of revenue.

Accounts Receivable

Financial obligations of customers towards a business for delivered but unpaid goods or services.

  • Comprehend the principles and computations involved in sales transactions, encompassing credit sales, returns, allowances, and discounts.
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SH
Shannon HestonDec 19, 2024
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