A Merchandiser Sold Merchandise Inventory on Account B) C) D)

A merchandiser sold merchandise inventory on account.The journal entry to record a sales allowance in the books of the merchandiser,using the perpetual inventory system would be:

A) $$\begin{array} { | c | r | c | } \hline \text { Sales Returns and Allowances } & \mathrm { XX } & \\\hline \text { Merchandise Inventory } & & \mathrm { XX } \\\hline\end{array}$$
B) $$\begin{array} { |l| r | r | } \hline \text { Refunds Payable } & \text { XX } & \\\hline \text { Accounts Receivable } & & \text { XX } \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Cost of Goods Sold } & \mathrm { XX } & \\\hline \text { Sales Returns and } & & \\\text { Allowances } & & \mathrm { XX } \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Estimated Returns Inventory } & \mathrm { XX } & \\\hline \text { Accounts Receivable } & & \mathrm { XX } \\\hline\end{array}$$

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