Selected:

All of the following are contra revenue accounts except

$15.99

$15.99

All of the following are contra revenue accounts except 1. Which of the following accounts has a normal credit balance? a. Sales Returns and Allowances b. Sales Discounts c. Sales d. Selling Expense 2. With respect to the income statement, a. contra-revenue accounts do not appear on the income statement. b. sales discounts increase the amount of sales. c. contra-revenue accounts increase the amount of operating expenses. d. sales discounts are included in the calculation of gross profit. 3. When a seller grants credit for returned goods, the account that is credited is a. Sales. b. Sales Returns and Allowances. c. Merchandise Inventory. d. Accounts Receivable. 4. The respective normal account balances of Sales, Sales Returns and Allowances, and Sales Discounts are a. credit, credit, credit. b. debit, credit, debit. c. credit, debit, debit. d. credit, debit, credit. 5. All of the following are contra revenue accounts except a. sales. b. sales allowances. c. sales discounts. d. sales returns. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

All of the following are contra revenue accounts except

Reviews

There are no reviews yet.

Be the first to review “All of the following are contra revenue accounts except”

Your email address will not be published. Required fields are marked *

Close Menu
×
×

Cart