Multiple Choice Accounting Questions (Simple)

Please answer the questions below

Question 15 (1 point) Sales Returns and Allowances" are reported as ( a) an expense. (b) a deduction from Sales Revenue. O c) a deduction from Accounts Receivable. O d) an addition to Accounts Receivable. Question 16 (1 point) If receivables are sold with recourse: a) allowance for doubtful accounts must be debited (Ob) the seller guarantees payment to the purchaser of the customer fails to pay O c) the purchaser must record a debit to retained earnings ()d) the seller does not guarantee payment to the purchaser if the customer fails to pay