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After Sally Purchased $5,000 of Merchandise from Bob,Sally Discovered $500

Question 68

Multiple Choice

After Sally purchased $5,000 of merchandise from Bob,Sally discovered $500 of defective merchandise.Record the entry for the return.The company uses the gross method,the periodic method and the voucher system.


A)
 Vouchers Payable 500 Vouchers Payable 500\begin{array}{l}\begin{array} { | l | l | } \hline \text { Vouchers Payable }& 500 \\\hline \text { Vouchers Payable } & 500 \\\hline\end{array}\end{array}
B)
 Vouchers Payable 5,000 Vouchers Payable 4,500 Purchases Returns & Allow. 500\begin{array} { | c | r | } \hline \text { Vouchers Payable } & 5,000 \\\hline \text { Vouchers Payable } & 4,500 \\\hline \text { Purchases Returns \& Allow. } & 500 \\\hline\end{array}
C)
 Vouchers Payable 4,500 Purchases Returns & Allow. 500 Vouchers Payable 5,000\begin{array} { | l | r | } \hline \text { Vouchers Payable } & 4,500 \\\hline \text { Purchases Returns \& Allow. } & 500 \\\hline \text { Vouchers Payable } &5,000 \\\hline\end{array}
D) None of these answers is correct.

Correct Answer:

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