1) Wexim To S1,100 of the merchandise. When recordin ys purchased merchandise fr

Question

1) Wexim To S1,100 of the merchandise. When recordin ys purchased merchandise from a supplier on credit, terms 2/10, n/30 for $9,300. Three days later, the company returned g the return transaction, the company would record : 1) A) S1,100 in the Accounts Payable Cr. column and S1,100 in the Inventory Dr.column of the purchases journal. B) Debit Cash $1,100 and credit Inventory $1,100 in the general journal. C) S1,100 in the Accounts Payable Dr. column and $1,100 in the Cash Cr. column of the cash disbursements journal. D) $1, 100 in the Cash Cr. column and $1,100 in the Inventory Cr. column in the cash disbursements journal. E) Debit Accounts Payable $1,100 and credit Inventory S1,100 in the general journal.

Explanation / Answer

Ans) Answer is option D

Debit Accounts payable $1,100 and credit inventory $1,100 in the general journal.

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