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What Is the Normal Balance of the Following Accounts

Question 218

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What is the normal balance of the following accounts?

Premises:
Sales
Merchandise Inventory
Delivery Expense
Sales Discounts
Sales Returns and Allowance
Cost of Merchandise Sold
Sales Tax Payable
Responses:
Credit
debit

Correct Answer:

Sales
Merchandise Inventory
Delivery Expense
Sales Discounts
Sales Returns and Allowance
Cost of Merchandise Sold
Sales Tax Payable
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