Multiple Choice
When goods are returned that relate to a prior cash sale,
A) the Sales Returns and Allowances account should not be used.
B) the Cash account will be credited.
C) Sales Returns and Allowances will be credited.
D) Accounts Receivable will be credited.
Correct Answer:

Verified
Correct Answer:
Verified
Q177: Taking a physical inventory count involves all
Q178: Wright Company recently made a $10,000 purchase
Q179: On September 1, Stanton Supply had an
Q180: Omari Company purchases various types of beach
Q181: If a company purchases goods FOB shipping
Q183: The operating cycle of a merchandising company
Q184: On September 1, Shediac Bay Marine had
Q185: The term n/30 means<br>A) the entire bill
Q186: A company buys merchandise costing $25,000 with
Q187: FOB means<br>A) Free on board.<br>B) Freight on