A characteristic of the account, Sales Discount, includes the following: OA. debit balance. OB. records the...

  
 
 

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A characteristic of the account, Sales Discount, includes the following: OA. debit balance. OB. records the cash discounts granted to customers. C. contra-revenue account. D. All of these answers are correct. The side that increases the balance of the Sales Discount account is: A. a debit. OB. a credit. OC. zero. D. It does not have a normal balance. If a customer returns merchandise, the income for that period will be increased. O True O False If a credit memorandum is issued, what account will be increased on the seller's books? O A. Accounts Receivable OB. Sales OC. Sales Returns and Allowances OD. Sales Discount A characteristic of the account, Sales Discount, includes the following: OA. debit balance. OB. records the cash discounts granted to customers. C. contra-revenue account. D. All of these answers are correct. The side that increases the balance of the Sales Discount account is: A. a debit. OB. a credit. OC. zero. D. It does not have a normal balance. If a customer returns merchandise, the income for that period will be increased. O True O False If a credit memorandum is issued, what account will be increased on the seller's books? O A. Accounts Receivable OB. Sales OC. Sales Returns and Allowances OD. Sales Discount

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The detailed answer for the above question is provided below Answer 1 D All of these answers are correct Explanation The Sales Discount account is a c... View the full answer