a-company-returns-700-worth-of-inventory-to-the-supplier-what-is-the-journal-ent

Question

A company returns $700 worth of inventory to the supplier. What is the journal entry to record this transaction?

Accepted Answer

Debit Accounts Payable $700; Credit Inventory $700

Answer

Debit Inventory $700; Credit Accounts Payable $700

Answer

Debit Inventory $700; Credit Cash $700

Answer

Debit Cash $700; Credit Inventory $700

A company returns \$700 worth of inventory to the supplier. What is the journal entry to record this transaction?