A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $700 to the vendor. Which of the following would be the correct journal entry to record these returns?

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The Answer of A company that uses a perpetual inventory system purchased inventory on account and later returned goods worth $700 to the vendor. Which of the following would be the correct journal entry to record these returns?

A Company That Uses a Perpetual Inventory System Purchased Inventory