(37) On March 23, goods were sold for $10,000. Cash of $8,000 was received, and the $2,000 remainder was on account. The customer returned the goods before paying any of the remaining $2,000 on account. Which debit or credit should be included in the journal entry on the seller's books to record the return of the goods? O Credit accounts receivable for $2,000. ○ Credit cash for $10,000. Debit accounts receivable for $10,000. Credit sales returns and allowances for $10,000. ធ
(37) On March 23, goods were sold for $10,000. Cash of $8,000 was received, and the $2,000 remainder was on account. The customer returned the goods before paying any of the remaining $2,000 on account. Which debit or credit should be included in the journal entry on the seller's books to record the return of the goods? O Credit accounts receivable for $2,000. ○ Credit cash for $10,000. Debit accounts receivable for $10,000. Credit sales returns and allowances for $10,000. ធ
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 8MC: A customer just charged $150 of merchandise on the companys own charge card. Which special journal...
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
Transcribed Image Text:(37) On March 23, goods were sold for $10,000. Cash of $8,000 was received,
and the $2,000 remainder was on account. The customer returned the goods
before paying any of the remaining $2,000 on account.
Which debit or credit should be included in the journal entry on the seller's
books to record the return of the goods?
O Credit accounts receivable for $2,000.
○ Credit cash for $10,000.
Debit accounts receivable for $10,000.
Credit sales returns and allowances for $10,000.
ធ
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