Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 5 - Merchandising Operations and the Multiple-Step Income Statement - Self-Test Questions: 3

Answer

c

Work Step by Step

Sales is a revenue account and normally has a credit balance. Sales discounts, returns, and allowances reduce sales, so they are debit accounts.
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