Answer
This is a business transaction.
Work Step by Step
This is a business transaction because the return of the merchandise and issuance of credit reflects an increase in liability to the organization toward the customer.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 3 - The Accounting Information System - Questions - Page 132: 2b
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