A characteristic of the account, Sales Discount, includes the following:
A) debit balance.
B) contra-revenue account.
C) records the cash discounts granted to customers.
D) All of these answers are correct.
Correct Answer:
Verified
Q2: Dora's Blankets and Bedding had a sale
Q3: A characteristic of Sales Returns and Allowances
Q4: Gross sales equals:
A) net sales minus sales
Q5: The side that increases the balance of
Q6: Betsy's pottery sold 300 tiles at $40
Q8: Merchants who buy goods from wholesalers for
Q9: Credit terms of 3/15, n/30 mean that:
A)
Q10: Sales Tax Payable is a:
A) liability account
Q11: The length of time the customer is
Q12: A contra-revenue account with a debit balance
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