One of Hawk Company's customers returned products that cost Hawk $300,which was sold on account for $450.Which of the following does not correctly describe the affect of the return on the financial statements?
A) Gross profit decreases $150.
B) Total current assets decrease $150.
C) Sales returns and allowances increase $150.
D) Operating expenses increase $150.
Correct Answer:
Verified
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A)A
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Q88: One of Hawk Company's customers returned products
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