Fall 2011 - term test #2.doc - solutions(2)

The merchandise was in good condition and the

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Unformatted text preview: point December 28, 2010. NE NE NE 3. Merchandise costing $3,000 was returned by a customer January 2, 2011. The merchandise was in good condition and the customer was given full credit of $5,000. $5,000 was deducted from inventory December 31, 2010. Understated $5,000 Understated $5,000 Understated $5,000 4. Merchandise was returned to a supplier for credit December 28, 2010. Credit of $7,000 was received January 2, 2011. N...
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This test prep was uploaded on 04/01/2014 for the course RSM 219 taught by Professor Z during the Spring '11 term at University of Toronto- Toronto.

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