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Q3 Q4 Badr company sold to Noor merchandise...

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Accounting

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Q4

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Badr company sold to Noor merchandise for $100, on credit. Three days later, Noor retumed $8 to B. Which journal entry is correct regarding the return transaction in the journal of Badr? a. Debit: Accounts receivable (current asset) $8, Credit: Sales return (expense) $8 b. Debit: Sales return (expense) $8, Credit: Accounts receivable (current asset) $8 c. Sales (revenue) $8, Credit: Accounts receivable (current asset) $8 d. Debit: Sales return (expense) $8, Credit: Cash (current asset) $8 Understating beginning inventory will understate: a. Owner's equity. b. Assets. c. Cost of goods sold. d. Net income

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