Which of the following is not one of the five classes of transactions included in the sales and collection cycle?
A)Sales returns and allowances
B)Write-off of uncollectible accounts
C)Bad debt expense
D)Interest Income

Question

Quizplus · Accepted Answer

The five classes of transactions included in the sales and collection cycle are sales, cash receipts, sales returns and allowances, write-off of uncollectible accounts, and allowance for doubtful accounts. Interest income is not related to the sales and collection cycle.

Which of the Following Is Not One of the Five