When a perpetual inventory system is used, the purchases returns and allowances account will not be part of the general ledger accounts.

Name: When a perpetual inventory system is used, the purchases returns and allowances account will not be part of the general ledger accounts.
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Quizplus · Accepted Answer

In a perpetual inventory system, purchases returns and allowances are directly adjusted in the inventory account, not recorded separately in the general ledger.

When a Perpetual Inventory System Is Used, the Purchases Returns