.363.
.400.
.456.
4-
Multiple Choice Question 96
The Sales Returns and Allowances account is classified as a(n)
contra revenue account.
contra asset account.
expense account.
asset account.
5-
Multiple Choice Question 179
On October 4, 2013, JT Corporation had credit sales transactions of
$3,200 from merchandise having cost $1,900. The entries to record the
day’s credit transactions include a
credit of $1,900 to Cost of Goods Sold.
credit of $3,200 to Sales Revenue.
debit of $1,900 to Inventory.
debit of $3,200 to Inventory.
6-
IFRS Multiple Choice Question 257