Wexim Toys purchased merchandise from a supplier on credit, terms 2/10, n/30 for $11,100. Three days later, the company returned $2,000 of the merchandise. When recording the return transaction, the company would record:
$2,000 in the Accounts Payable Cr. column and $2,000 in the Inventory Dr. column of the purchases journal.
Debit Accounts Payable $2,000 and credit Inventory $2,000 in the general journal.
$2,000 in the Cash Cr. column and $2,000 in the Inventory Cr. column in the cash disbursements journal.
Debit Cash $2,000 and credit Inventory $2,000 in the general journal.
$2,000 in the Accounts Payable Dr. column and $2,000 in the Cash Cr. column of the cash disbursements journal
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