Question: SECTION A - 20 Marks 1. Sales Returns and Allowances: a) Is a contra revenue account. b) Has a normal debit balance. c) Appears on

SECTION A - 20 Marks 1. Sales Returns and Allowances: a) Is a contra revenue account. b) Has a normal debit balance. c) Appears on the income statement. d) All of the above. 2. Recording a sale requires a: a) Credit to a revenue account and a debit to an asset account. b) Debit to Cash and a credit to Owner's Capital. c) Debit to a revenue account and credit to an asset account. d) Credit to Sales and a

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