6) On June 1, Nicholson Company purchased inventory on account with a cost of $1900. Credit terms were 2/10, net 30 . On June 2, Nicholson Company returned 60 percent of the inventory. Nicholson Company uses the perpetual inventory system. What journal entry did Nicholson Company prepare on June 2 ? A) debit Cash for $1900 and credit Accounts Payable for $1900 B) debit Accounts Payable for $1140 and credit Inventory for $1140 C) debit Purchase Returns for $1900 and credit Accounts Payable for $1900 D) debit Purchase Returns for $1140 and credit Accounts Payable for $1140
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