Question: I only have an hour please any help would be greatly appreciated, thank you College Accounting, 13e (Slater) Chapter 10 Purchases and Cash Payments A)
College Accounting, 13e (Slater) Chapter 10 Purchases and Cash Payments A) Accounts Payable C) Sales Discount 2) A debit memorandum increases which account on the seller's books? A) Accounts Payable C) Sales Discount D) Accounts Receivable 3) A debit memorandum decreases which account on the seller's books? A) Accounts Payable B) Purchases Retums and Allowances C Sales Returns and Allowances D) Accounts Receivable 4) A debit memorandum decreases which account on the buyer's books? A) Accounts Payable B) Purchases Returns and Allowances C) Sales Returns and Allowances D) Sales Discount 5) The normal balance for Purchases Retums and Allowances is: A) a debit. B) a credit. zero. D) It does not have a normal balance. 6) Net purchases are: A) Purchases Purchases Returns and Allowanoes. Purchases Freight Purchases Retums and Allowances. D) Purchases Freight-in freight-out. 7 If a display rack was purchased for the store, which of the following accounts would be increased? A) Store Equipment C) Capital D) None of the above is
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