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What entry Bryson make assuming a perpetual inventory system

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Problem 1: Bryson Company records returns and allowances in the general journal. On June 25, Bryson issued a $120 debit memo for merchandise purchased on credit from Crimson Company because part of the merchandise that was sent was not what Bryson ordered. What entry does Bryson make assuming a perpetual inventory system?

Option A. Accounts Payable-Crimson Company 120
Accounts Receivable-Crimson Company 120
Option B. Accounts Payable-Crimson Company 120
Purchase Returns and Allowances 120
Option C. Accounts Receivable-Crimson Company 120
Sales Returns and Allowances 120
Option D. Accounts Payable-Crimson Company 120
Inventory 120

Reference no: EM132950810

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