Sales Discounts is a(n)
A) contra revenue account.
B) contra asset account.
C) revenue account.
D) expense account.
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
Q89: When goods from a cash sale are
Q91: Under the perpetual inventory system, in addition
Q92: The entry to record a sale of
Q94: If a customer agrees to keep defective
Q95: A Sales Returns and Allowances account is
Q142: A sales discount does not
A)provide the purchaser
Q153: As an incentive for customers to pay
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