Answered: A customer returned damaged goods for…

A customer returned damaged goods for credit. Under a perpetual system, which of the seller's accounts decreases? a. sales revenue b. sales returns c. accounts receivable d. purchase returns

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 4MC: If a customer purchases merchandise on credit and returns the defective merchandise before payment,...

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Question

A customer returned damaged goods for credit. Under a perpetual system, which of the seller's accounts decreases?

a. sales revenue

b. sales returns

c. accounts receivable

d. purchase returns

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