When merchandise that was sold is returned, a credit to sales returns and allowances is made.
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Q2: The cost of merchandise inventory is limited
Q3: In a perpetual inventory system, when merchandise
Q4: The fees associated with credit card sales
Q5: Sales to customers who use bank credit
Q6: Most retailers record all credit card sales
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Q9: Cost of merchandise sold is the amount
Q10: Freight is considered a cost of inventory
Q11: Under a perpetual inventory system, the cost
Q12: In a merchandise business, sales minus operating
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