Correct answer of this question is option (a) instead of (d)
(15) When purchase merchandise is returned under a perpetual inventory system a credit would be made to
(a) Inventory (b) Freight in (c) Purchases (d) Purchase return
Correct answer of this question is option (b) instead of (a)
12) Which one of the following account would usually have credit balance?
(a) Cash (b) Account payable (c) Equipment (d) Salaries expense
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