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Select onep Our navig Cody and Rio run a successful business...

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Accounting

Select onep
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Our navig Cody and Rio run a successful business that sells premium bird cages to retail stores One client. Rich Inc, Calls Cody and exclaims that a bird cage they purchased last week was the wrong colour. Rich Inc. says they will return the bird cage unless Cody offers them a 20% allowance on the cage. Cody agrees to the allowance. How does Rich Inc record this allowance? Assume a perpetual inventory system Select one: O a. It should increase a liability and decrease an asset b. It should decrease a liability and increase an asset It should increase a liability and increase an asset d. It should decrease a liability and decrease an asset Next page

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