If a company records merchandise it returns to suppliers in the general journal then
A) a posting must be made only to the accounts payable control account.
B) a posting must be made only to the accounts payable subsidiary ledger account.
C) a dual posting must be made.
D) there will be a debit to Inventory.

Question

Quizplus · Accepted Answer

When merchandise is returned to suppliers, a dual posting must be made. The journal entry will include a debit to Accounts Payable and a credit to Inventory. This will update both the Accounts Payable control account and the Accounts Payable subsidiary ledger account.

If a Company Records Merchandise It Returns to Suppliers in the General