Business, 14.04.2020 21:13, malacath3394
Garden Company sold merchandise to Mamouth Industries on account for $3,450 with terms 2/10, n/30. The cost of merchandise sold was $1,850. Garden Company refunded Mamouth Industries $900 for returned merchandise. The cost of merchandise sold was $600. Which of the following will be recorded by Mamouth Industries in the journal entry for the return using the perpetual inventory system?
A. credit to Accounts Payable, $882.
B. credit to Merchandise Inventory, $882.
C. debit to Merchandise Inventory, $600.
D. debit to Accounts Payable, $600.
Answers: 2
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Garden Company sold merchandise to Mamouth Industries on account for $3,450 with terms 2/10, n/30. T...
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