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Home > Education > Homework Help > Finance & Accounting   »   Credit Memo Question

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Old Apr 26, 2006, 09:14 PM
babebutterfly
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Credit Memo Question
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Do I make a return on this in the general journal? Like debit account payable and and credit merchandise inventory?

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Old Apr 27, 2006, 12:39 PM   #2  
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Yeah.

Since you are returning the inventory.

Another option would be to credit Purchase Returns and Allowances, if you have such an account.

Debit AP
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