Emily purchased $2,000 of merchandise on April 1 and recorded it in the voucher register. On April 8, $400 of the merchandise proved to be defective. The company uses the gross method and the periodic inventory system. The entry would be to:
A) reduce the original voucher.
B) record a purchase return in the general journal.
C) cancel the original voucher and record a revised voucher.
D) None of these answers is correct.

Question

Quizplus · Accepted Answer

The Answer of Emily purchased $2,000 of merchandise on April 1 and recorded it in the voucher register. On April 8, $400 of the merchandise proved to be defective. The company uses the gross method and the periodic inventory system. The entry would be to:
A) reduce the original voucher.
B) record a purchase return in the general journal.
C) cancel the original voucher and record a revised voucher.
D) None of these answers is correct.

Emily Purchased $2,000 of Merchandise on April 1 and Recorded