On April 3, Villa Corp. returned merchandise that had a selling price of $1,200 for a cash refund. The merchandise originally cost $720. What is the effect on the accounting equation of the following entries for this return?

Question

On April 3, Villa Corp. returned merchandise that had a selling price of $1,200 for a cash refund. The merchandise originally cost $720. What is the effect on the accounting equation of the following entries for this return?  ​
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Quizplus · Accepted Answer

The Answer of On April 3, Villa Corp. returned merchandise that had a selling price of $1,200 for a cash refund. The merchandise originally cost $720. What is the effect on the accounting equation of the following entries for this return?  ​
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