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Prepare the journal entry to record return for corner-mart

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On November 6, 2019, Corner-Mart received a shipment of T-shirts from Promo Novelties for an event. The invoice amounted to $8,820 and was recorded in the accounting system as an amount owing. Soon after the delivery was made, the marketing manager discovered that the logo was printed incorrectly. The goods were returned to Promo Novelties on November 20. The company uses a perpetual inventory system.

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Problem 1: Prepare the journal entry to record the return for Corner-Mart on November 20.

Reference no: EM132742746

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