Due Day 3
Credit memos are created when a product is returned. Credit memos reduce A/R (accounts receivable) by crediting the account, and it writes off the invoice. This also records a debit to the Sales Returns and Allowances account.
You have noticed that the A/R clerk has created an abnormally high number of credit memos. You also notice the inventory does not reflect the additional inventory resulting from the sales returns.
Respond to the following in a minimum of 175 words:
Due Day 7
Reply to at least 2 of your classmates. Be constructive and professional in your responses.
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