Which of the following accounts is NOT used to account for merchandise sales transactions?
A) Sales
B) Sales Tax Payable
C) Sales Returns and Allowances
D) Accounts Payable
Correct Answer:
Verified
Q25: A credit memorandum for $156 (sale price
Q26: A schedule of accounts receivable is prepared
Q27: Copies of a sales invoice are used
Q28: Sales Tax Payable is a liability account.
Q29: A customer returns merchandise that was delivered
Q31: Merchandise is sold on account for $90,
Q32: If the schedule of accounts receivable total
Q33: The sales tax payable account is a
Q34: A business that purchases clothing, furniture, computers,
Q35: After posting is completed in the accounts
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents