Juniper Co uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9750 of merchandise on August 7 with terms 1/10,n/30. On August 11, it returned $1500 worth of merchandise. On August 26 it paid the full amount due. The correct journal entry to record the merchandise return on August 11 is:.
A) Debit Merchandise Inventory $1500; Credit Sales Returns $1500 (chosen answer)
B) Debit Accounts Payable $1500; Credit Purchase Returns $1500
C) Debit Accounts Payable $1500; Credit Cash $1500
D) Debit Accounts Payable $1500; Credit Merchandise Inventory $1500
E) Debit Merchandise Inventory $1500; Credit Cash $1500

Consider the following potential events that might have occurred to global on december​ 30, 2016. for each​ one, indicate which line items in​ global's balance sheet would be affected and by how much. also indicate the change to​ global's book value of equity. a. global used $ 19.8$19.8 million of its available cash to repay $ 19.8$19.8 million of its​ long-term debt. b. a warehouse fire destroyed $ 4.9$4.9 million worth of uninsured inventory. c. global used $ 4.6$4.6 million in cash and $ 5.1$5.1 million in new​ long-term debt to purchase a $ 9.7$9.7 million building. d. a large customer owing $ 3.2$3.2 million for products it already received declared​ bankruptcy, leaving no possibility that global would ever receive payment. e. ​global's engineers discover a new manufacturing process that will cut the cost of its flagship product by more than 48 %48%. f. a key competitor announces a radical new pricing policy that will drastically undercut​ global's prices.