This question was created from Given below are account balances for Charlie Company.docx

Question 3 18 points !
Merchandise was returned to a supplier . The goods were previously purchased on account . The goods
had not been paid for and there were no discounts . Assuming a periodic system , what journal entry is
needed by the purchaser to record the return ?
Question 3 options :"
Debit Accounts Payable , and Credit Purchase Discounts .
Debit Accounts Payable , and Credit Purchases .
Debit Accounts Payable , and Credit Inventory .
Debit Accounts Payable , and Credit Purchase Returns and Allowances .