July 12: Purchased office equipment on account from MLR Co., $1,400. Date Jul. 12 Account Titles Date Jul. 13 Debit July 13: Made refunds to cash customers, $190, for defective merchandise. The cost of defective merchandise was $30. Journalize the refund. Do not record the expense related to the refund. We will do that in the following step. Account Titles Credit Debit Credit

July 12: Purchased office equipment on account from MLR Co., $1,400. Date Jul. 12 Account Titles Date Jul. 13 Debit July 13: Made refunds to cash customers, $190, for defective merchandise. The cost of defective merchandise was $30. Journalize the refund. Do not record the expense related to the refund. We will do that in the following step. Account Titles Credit Debit Credit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 15MC: A customer returns $870 worth of merchandise and receives a full refund. What accounts recognize...

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