On April 12,Vancouver Company returned of $500 of merchandise it purchased on account from Rupert Co.This transaction will result in
A) a $500 debit to the controlling account,Accounts Payable,and a $500 debit to the individual account in the subsidiary ledger.
B) the subsidiary ledger total being $500 less than the controlling account total.
C) a $500 debit to the subsidiary ledger and a $500 credit to the controlling account,Accounts Payable.
D) the subsidiary ledger total being $500 more than the controlling account total.
Correct Answer:
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Q1: On April 12,Vancouver Company accepted a return
Q2: When a company uses an accounts receivable
Q3: Adjusting and closing entries regarding purchases and
Q4: Transactions involving payments of cash for merchandise
Q5: When special-purpose journals are used,which of the
Q7: The purchases journal is used to record
Q8: When a company uses an accounts receivable
Q9: When special journals are used,the general journal
Q10: The cash payments journal would normally post
Q11: Which of the following transactions would be
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