??(B) ??(T) ??(W) ???? ?? ?? ??? ???????? ???? ???,???, ??, ?????????, ??,????,?

Question

??(B) ??(T) ??(W) ???? ?? ?? ??? ???????? ???? ???,???, ??, ?????????, ??,????,??· ? ????? ?????? ??????11??(P) rk solution K ÷ 02 Prepare the entry AutoZone would make to record the credit for returned goods that had a $300 selling price. Assume the returned goods were defective and had a serap value of $50, AutoZone would make the following entries: Sales Returns and Allowances 300 Accounts Receivable 300 Accounts Recevable 300 Sales Returns and Allowances 300 Inventory 250 Cost of Goods Sold 250 Accounts Receivable 300 Sales Returns and Allowances300 Inventory 50 Cost of Goods Sold 50 Sales Returns and Allowances300 Accounts Reccivable 300 Inventory 50 Cost of Goods Sold50

Explanation / Answer

Solution:

Hence option D is correct.

Journal entry - Auto Zone S no Particulars Debit Credit 1 Sales return and allowance Dr $300.00             To accounts receivables $300.00 2 Inventory Dr $50.00             To Cost of goods sold $50.00

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