14 Purchase Discounts would be arded as a creat 1both Train NAME: SECTION: True or False accounts on the worksheet of trung thu witem, the Merchandise when using the perpetual want the two will not appear in care the worksheet of merchandising with the started my will not have a portation in when preparing workshop Inventory system, the cost of goods sold can be accounts in the Income Statement comme 6 Under the perpetual inventory system, the uning merchand. based at the same time as Cost of Goods Said 7 When preparing won that for merchandising entity that uses the periode inventory system, the merchandise wwentory amount shown on the will be carried over to the Balance Sheet debitum On the worksheet of a merchandising entity that uses the periodismo com both Purchases and purchases Reums and Alwines pour in the Statement column The Purchases account is closed to the Merchandise intory.ccount 10 The ending inventory amount appears in both income Statement is on the worksheet of a merchandising entity that uses the periodicitary system IL Under the periodic inventory system the Merchandiser toutes the closing entries made at the end of the period 12 When preparing closing entries under the periodic Inventoryshem, Salon Purchases Returns and Allowances are both closed in the same entry 12 Sales Discounts is a contra reverse account with a tomai credit bulance 14 Purchase Discounts would be arded as a creat 1both Train NAME: SECTION: True or False accounts on the worksheet of trung thu witem, the Merchandise when using the perpetual want the two will not appear in care the worksheet of merchandising with the started my will not have a portation in when preparing workshop Inventory system, the cost of goods sold can be accounts in the Income Statement comme 6 Under the perpetual inventory system, the uning merchand. based at the same time as Cost of Goods Said 7 When preparing won that for merchandising entity that uses the periode inventory system, the merchandise wwentory amount shown on the will be carried over to the Balance Sheet debitum On the worksheet of a merchandising entity that uses the periodismo com both Purchases and purchases Reums and Alwines pour in the Statement column The Purchases account is closed to the Merchandise intory.ccount 10 The ending inventory amount appears in both income Statement is on the worksheet of a merchandising entity that uses the periodicitary system IL Under the periodic inventory system the Merchandiser toutes the closing entries made at the end of the period 12 When preparing closing entries under the periodic Inventoryshem, Salon Purchases Returns and Allowances are both closed in the same entry 12 Sales Discounts is a contra reverse account with a tomai credit bulance