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Sales Discounts and Sales Returns and Allowances are contra-accounts of the Sales account.Is this ...

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Sales Discounts and Sales Returns and Allowances are contra-accounts of the Sales account.Is this ...

Sales Discounts and Sales Returns and Allowances are contra-accounts of the Sales account.
Is this statement one that's true or false?

Textbook

Financial Accounting

Edition: 3^rd

Authors: Kemp, Waybright

Read 154 times

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antonio_john

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Solved The normal balances of Sales, Sales Discounts, and Sales Returns and Allowances are ________.
Solved Net sales is computed by taking:
Solved Net Sales are: (Multiple Choice)
Solved Net Sales + Sales Discounts + Sales Returns and Allowances equals:
Solved Net sales equal: (Multiple Choice)
Solved The contra-revenue accounts include: (Multiple Choice)
Solved The total of all cash sales and credit sales equals:
Solved Sales Discounts and Sales Returns and Allowances are contra-asset accounts.

tivo Author

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7 years ago

I appreciate it once again, answered correctly

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