Kenyon Company experienced a transaction that had the following effect on the financial statements:Assets=Liab.+Stk.EquityRev.-Exp.=Net Inc.Stmt ofCash Flows- - NANA NA NANAWhich of the following business events would result in this effect on the financial statements?
A. A loss on land that was sold for cash
B. Paid for merchandise that had been purchased on account
C. Return to a supplier of merchandise purchased on account
D. Return by a customer of a sale that was made on account
Answer: C
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