An account that is classified as a contra-revenue: O a. may include sales discounts and credit card service fees. O b. is subtracted from gross sales revenue to determine net sales revenue. O c. typically has a credit balance. O d. is subtracted from accounts receivable to determine net receivables.

An account that is classified as a contra-revenue: O a. may include sales discounts and credit card service fees. O b. is subtracted from gross sales revenue to determine net sales revenue. O c. typically has a credit balance. O d. is subtracted from accounts receivable to determine net receivables.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter14: Adjustments And The Work Sheet For A Merchandising Business

Section: Chapter Questions

Problem 1MC

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