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Which of the Following Does Not Correctly Describe the Effect

Question 133

Multiple Choice

Which of the following does not correctly describe the effect of a journal entry involving the recording of a credit card discount?


A) Net sales decrease and net income decreases.
B) Net sales decrease,operating expenses increase,and net income remains the same.
C) Operating expenses remain the same and net income decreases.
D) Net sales decrease and gross profit decreases.

Correct Answer:

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