Answered: Which of the following accounts has a…

Which of the following accounts has a normal credit balance? Select one: A. Sales Returns and Allowances B. Freight-in C. Purchase Discounts D. Purchases

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 1DQ: What is the normal balance for each of the following accounts: (a) Purchases? (b) Sales Discounts?...

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Question

Which of the following accounts has a normal credit balance?

Select one:

A. Sales Returns and Allowances

B. Freight-in

C. Purchase Discounts

D. Purchases

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