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View Full Version : Credit Memo Question


babebutterfly
Apr 26, 2006, 09:14 PM
875
Do I make a return on this in the general journal? Like debit account payable and credit merchandise inventory? :confused:

CaptainForest
Apr 27, 2006, 12:39 PM
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