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Ace electronics recorded a debit to sales returns and allowances and a credit to accounts receivable, along with a debit to inventory and a credit to cost of goods sold. What business event must have taken place?.

Respuesta :

The business event that must have taken place regarding the account receivable is that the customer received a damaged product and returned it.

What is account receivable?

Accounts receivable simply means an asset account on the balance sheet which represents money that is due to a company in the short term.

In this case, since Ace electronics recorded a debit to sales returns and allowances and a credit to accounts receivable, a customer received a damaged product and returned it.

Learn more about account receivable on:

https://brainly.com/question/24848903

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