When merchandise that was sold on account is returned, using the perpetual inventory system which accounts are affected in the books of the seller?

Question

Quizplus · Accepted Answer

Under a perpetual inventory system, when a buyer returns merchandise to the seller, the following entry is made by the seller:
Sales returns and allowances XXX
$\quad $ $\quad $ $\quad $ $\quad $ $\quad $ Accounts receivable XXX
Inventory XXX
$\quad $ $\quad $ $\quad $ $\quad $ Cost of goods sold XXX

When Merchandise That Was Sold on Account Is Returned, Using