When a buyer returns merchandise purchased for cash, the buyer will record the transaction as a

Name: When a buyer returns merchandise purchased for cash, the buyer will record the transaction as a
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When a buyer returns merchandise purchased for cash, the transaction should be recorded as a debit to Cash and a credit to Merchandise Inventory. This records the decrease in the amount of cash held by the buyer and the increase in the amount of inventory held by the seller.

When a Buyer Returns Merchandise Purchased for Cash, the Buyer