Merchandise was returned to a supplier. the goods were previously purchased on account. the goods had not been paid for and there were no discounts. assuming a periodic system, what journal entry is needed by the purchaser to record the return? question 3 options: debit accounts payable, and credit inventory. debit accounts payable, and credit purchase returns and allowances. debit accounts payable, and credit purchases. debit accounts payable, and credit purchase discounts.

You are a team of marketing consultants. it is 2008 and the great recession has struck. one of your clients is whole foods market (sometimes known as whole paycheck). wfm has come to you and asked for strategic advice on how to adapt their product and pricing strategies in light of the economic downturn: 1. advise wfm on the various approaches that could be taken to reducing price. be sure to consider potential psychological impact of price reductions on wfm consumers. 2. based on the options outlined in part 1, recommend an approach and support with marketing theory.