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:

Verified
Correct Answer:
Verified
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