Business, 30.10.2019 03:31 aaliyahrice02

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 26, it paid the full amount due. the correct journal entry to record the merchandise return on august 11 is: a. debit merchandise inventory $1500; credit sales returns $1500 (chosen answer)b. debit accounts payable $1500; credit purchase returns $1500c. debit accounts payable $1500; credit cash $1500d. debit accounts payable $1500; credit merchandise inventory $1500e. debit merchandise inventory $1500; credit cash $1500

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Juniper company uses a perpetual inventory system and the gross method of accounting for purchases....