Answered: The contra−revenue accounts include:…

The contra−revenue accounts include: A. Sales Tax Payable. B. Sales Returns and Allowances. C. Sales Discount. D. Both B and C are correct.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 1MC: Which of the following is an example of a contra revenue account? A. sales B. merchandise inventory...

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Question

The contra−revenue accounts include:

Sales Tax Payable.

Sales Returns and Allowances.

Sales Discount.

Both B and C are correct.

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