Merchandise sold on credit was returned for credit and recorded with a debit to

User Generated

Qnja46550

Business Finance

Description

Merchandise sold on credit was returned for credit and recorded with a debit to Sales Returns and Allowances and a credit to Accounts Payable. This error will cause __________.

A. the net income for the period to be overstated

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

the correct solution is A. the net income for the period to be overstated


Anonymous
Great! Studypool always delivers quality work.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags