Business, 24.10.2019 02:00 tdahna0403

X-mart uses the perpetual inventory system to account for its merchandise. a customer who purchased merchandise on account requested an allowance on merchandise purchase due to its poor quality, but did not return the goods back to x-mart. assuming that x-mart gives an allowance of $50 on the merchandise, demonstrate the required journal entry on x-mart's books to record the allowance.
a. debit sales returns and allowances $50
b. credit account receivable $50
c. both a & b
d. none

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