uop acc 290 new,uop acc 290 new,uop acc 290 new complete course,uop a ACC 290 Final Exam NEW | Page 14

preparing a post-closing trial balance.
preparing an adjusted trial balance.
preparing a work sheet.
journalizing and posting closing entries.
Question 23
A sales discount does not
increase a contra revenue account.
increase an operating expense account.
reduce the amount of cash received from a credit sale.
provide the purchaser with a cash saving.
Question 24
American Importers reports net income of $50,000 and cost of
goods sold of $450,000. If the company’s gross profit rate was
40%, net sales were
$1,125,000.
$1,175,000.
$825,000.
$750,000.