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On March 18,James Smith Purchased $5,000 of Furniture from Home

Question 137

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On March 18,James Smith purchased $5,000 of furniture from Home Furnishings on account.The cost of the goods was $3,000.On March 20,Home Furnishings granted the customer a $1,000 sales allowance for goods damaged in transit.Which of the following represents the correct way to record this transaction?


A)
On March 18,James Smith purchased $5,000 of furniture from Home Furnishings on account.The cost of the goods was $3,000.On March 20,Home Furnishings granted the customer a $1,000 sales allowance for goods damaged in transit.Which of the following represents the correct way to record this transaction? A) B) C) D)
B)
On March 18,James Smith purchased $5,000 of furniture from Home Furnishings on account.The cost of the goods was $3,000.On March 20,Home Furnishings granted the customer a $1,000 sales allowance for goods damaged in transit.Which of the following represents the correct way to record this transaction? A) B) C) D)
C)
On March 18,James Smith purchased $5,000 of furniture from Home Furnishings on account.The cost of the goods was $3,000.On March 20,Home Furnishings granted the customer a $1,000 sales allowance for goods damaged in transit.Which of the following represents the correct way to record this transaction? A) B) C) D)
D)
On March 18,James Smith purchased $5,000 of furniture from Home Furnishings on account.The cost of the goods was $3,000.On March 20,Home Furnishings granted the customer a $1,000 sales allowance for goods damaged in transit.Which of the following represents the correct way to record this transaction? A) B) C) D)

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