Which of the following accounts has a normal credit balance?
A) Sales Returns and Allowances
B) Sales Discounts
C) Sales Revenue
D) Cost of Goods Sold
Correct Answer:
Verified
Q98: A Sales Returns and Allowances account is
Q102: With respect to the income statement
A) contra-revenue
Q136: The credit terms offered to a customer
Q137: Which of the following accounts normally have
Q139: Anderson Inc.sells $1,200 of merchandise on account
Q141: The sales section of an income statement
Q142: What is the term applied to the
Q143: Gross profit does not appear
A)on a merchandising
Q144: Gross profit equals the difference between net
Q145: Operating expenses would include
A)interest expense.
B)income tax expense.
C)freight-out.
D)freight-out
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