Question: A sales return and allowance is to which account? A) Credit to sales return & allowance B) Debit to sales return & allowance C) Debit

A sales return and allowance is to which account?
A) Credit to sales return & allowance
B) Debit to sales return & allowance
C) Debit to merchandise inventory
D)

Credit to merchandise inventory

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Herman and Sons Law Offices opened on January 1, 2015. During the first year of business, the company had the following transactions: January 2: The owners invested $ 250,000 (the par value of the...

Q:

A sales return and allowance is to which account? A) Credit to sales return & allowance B) Debit to sales return & allowance C) Debit to merchandise inventory D) Credit to merchandise inventory

Q:

A sales return and allowance is to which account? A) Credit to sales return & allowance B) Debit to sales return & allowance C) Debit to merchandise inventory D) Credit to merchandise inventory

Q:

Journal Entries: Date Account Details Debit Account Details Credit Jan. 1 Cash 100,000.00 Common Stock 100,000.00 Jan. 3 Merchandise Inventory 20,000.00 Account payable 20,000.00 Jan. 6 Account...

Q:

Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Nov. 5 Purchased 950 units of...

Q:

1 9 . The service fee that credit card companies charge retailers varies and is the primary reason why some businesses do not accept all credit cards. 2 0 . The document issued by the seller that...

Q:

Can someone please check my work? Where there is an asterisk the answer is wrong. I also need an income statement, closing entires, and a post closing balance sheet. Darby Kte Store Work Sheet For...

Q:

Froviding for doubthil acceunts At the end of the current yeac, the accounts recelvable account has a debit balance of $ 6 6 6 , 0 0 9 and sales for the year tatal 5 9 , 0 2 0 . 0 5 0 . a . The...

Q:

I go to Grand Canyon University. I am having trouble with p5-46. If you could help me that would be great. I will attach a document as well. Here is my question. Again the problem I am having trouble...

Q:

Narrative and Instructions Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an authorized...

Q:

Hi, attached please find a project I need help with. I have filled out some parts, but I'm not sure if they're accurate. The instructions are on the "instructions" tab and it involves ordering out...

Q:

According to ASC 606, an entity should recognize revenue when goods or services are transferred to a customer. Goods and services are transferred to a customer when the customer obtains control....

Q:

Tom and Rachel are married and living together in California. Their income is as follows: Tom's salary $40,000 Rachel's salary 30,000 Dividends (Tom's property) 5,000 Dividends (Rachel's property)...

Q:

Pick one product and in details citing real life examples ( e . g . , coffee , shampoo, cereal, fashion, etc. ) and compare how it is marketed in two culturally opposite countries ( e . g . , Japan...

Q:

A cylinder has a diameter of 15 cm (Fig. 9.37). The water level in the cylinder is maintained at a constant height of 0.45 m. If the diameter of the spout pipe is 0.50 cm, how high is h, the vertical...

Q:

A cyclist with a total skin area of 1.5 m2 is riding a bicycle on a day when the air temperature is 20oC and her skin temperature is 34oC. The cyclist does work at about 200 W (moving the pedals) but...

Q:

A current-carrying solenoid is 10 cm long and is wound with 1000 turns of wire. It produces a magnetic field of 4.0 x 10-4 T at the solenoids center. (a) How long would you make the solenoid in order...

Q:

A crystal wine glass is partially filled with water. A person wets her finger and rubs it around the rim of the glass, which produces sound. Why is this?

Q:

A crude model of the Earths magnetic field consists of a circular loop of current with a radius of 500 km with its center coincident with that of the Earths. Assuming the plane of the loop to be...

Q:

Question 7 . Given the following simple maze, convert the maze into a graph. ( 5 points ) Question 8 . Implement depth first search in the maze function in homework 1 . py . ( 2 0 points ) Question 9...

Q:

2. You are asked to provide information to the board of the company you work for. How would you convey this information if the aim is: a) That they will remember the information for a long time. b)...

Q:

7. Give examples of information-overload from your everyday life. Review the six consequences that information-overload can lead to and discuss the examples in relation to all the six points.

Q:

6. What does it mean when we say that our interpretation of information is dependent on our prior knowledge and our values?