When goods from a cash sale are returned, the effect on the seller's accounts will be
A) an increase in net sales.
B) a decrease in gross sales.
C) an increase in gross sales.
D) a decrease in net sales.
Correct Answer:
Verified
Q85: Sales revenues are usually considered earned when
A)cash
Q86: Sales Returns and Allowances is a(n)
A)asset account.
B)contra
Q88: For a company using a perpetual inventory
Q90: Freight paid by the seller to a
Q90: Sales Discounts is a(n)
A)contra revenue account.
B)contra asset
Q91: Under the perpetual inventory system, in addition
Q92: The entry to record a sale of
Q94: If a customer agrees to keep defective
Q142: A sales discount does not
A)provide the purchaser
Q153: As an incentive for customers to pay
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents