menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting Study Set 31
  4. Exam
    Exam 5: Accounting for Merchandising Operations
  5. Question
    Which of the Following Accounts Has a Normal Credit Balance
Solved

Which of the Following Accounts Has a Normal Credit Balance

Question 90

Question 90

Multiple Choice

Which of the following accounts has a normal credit balance?


A) Purchases
B) Sales Returns and Allowances
C) Freight-In
D) Purchase Discounts

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q85: In preparing closing entries for a merchandising

Q86: A periodic inventory system requires a detailed

Q87: Financial information is presented below: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8572/.jpg"

Q88: The collection of a $1,000 account after

Q89: A merchandising company has different types of

Q91: The Sales Returns and Allowances account does

Q92: McIntyre Company made a purchase of merchandise

Q93: As an incentive for customers to pay

Q94: Sales revenue<br>A)may be recorded before cash is

Q95: A merchandising company using a perpetual system

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines