Posted: May 16th, 2016

The entry required to record a sales return by a customer would consist of

The entry required to record a sales return by a customer would consist of
A) Only a debit to Sales Revenue and a credit to Accounts Receivable
B) Only a debit to Sales Returns and Allowances and a credit to Accounts Receivable
C) Debits to Sales Returns and Allowances and Inventory and credits to Accounts Receivable and Cost of Goods Sold
D) Debits to Sales Returns and Allowances and Cost of Goods Sold and credits to Accounts Receivable and Inventory