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    babebutterfly's Avatar
    babebutterfly Posts: 2, Reputation: 1
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    #1

    Apr 26, 2006, 09:14 PM
    Credit Memo Question
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    Do I make a return on this in the general journal? Like debit account payable and credit merchandise inventory? :confused:
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    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

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