Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a
A) credit to Sales Returns and Allowances
B) debit to Merchandise Inventory
C) credit to Merchandise Inventory
D) debit to Cost of Merchandise Sold
B
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Indicate whether the statement is true or false
A bond indenture is
A) a contract between the corporation issuing the bonds and the underwriters selling the bonds B) the amount due at the maturity date of the bonds C) a contract between the corporation issuing the bonds and the bond trustee, who is acting on behalf of the bondholders. D) the amount for which the corporation can buy back the bonds prior to the maturity date
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Indicate whether the statement is true or false