Remaining Time: 1 hour, 54 minutes, 17 seconds. Question Completion Status: QUESTION 3 3.3 On August 5, Toyota buys merchandise on account from AutoZone Company. The selling price of the goods is $2,326, and the cost to AutoZone Company was 5536. On August 8, Toyota returns goods with a selling price of S180 and a cost of $25. Which of the following statement is false? Sales Returns and Allowances is a contra revenue account and has normal debit balance, Journal entry to record return on the books of AutoZone Company on August 8 Sales Returns and Allowances 180 Accounts Receivable 180 Inventory 25 Cost of Goods Sold 25 Accumulated depreciation is a contra asset account and has a normal debit balance. Journal entry to record the sale on the books of AutoZone Company on August 5 Accounts Receivable 2,326 Sales Revenue 2,326 Cost of Goods Sold 536 Inventory 336