Income from operations is determined by subtracting total operating expense

Income from operations is determined by subtracting total operating expenses 1. When a customer returns merchandise previously purchased on credit, the entry to record the return requires a debit to the ________________ account and a credit to the ________________ account. 2. Sales Returns and Allowances and Sales Discounts are both ______________ accounts and have _______________ normal balances. 3. Every sales transaction should be supported by a ________________ that provides written evidence of the sale. 4. Gross profit is obtained by subtracting ________________ from ________________. 5. Income from operations is determined by subtracting total operating expenses from ________________. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help