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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
When recording the sale of merchandise inventory, using a periodic inventory system, ________.
A) there is no need to record an entry to the Merchandise Inventory and the Cost of Goods Sold accounts
B) a running record of merchandise inventory is maintained during the accounting period
C) sales discounts and sales returns and allowances are not recorded
D) the Sales Revenue account is credited only as an adjusting entry because sales information is not needed during the accounting period
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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7 years ago
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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