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The Sales Returns and Allowances account is classified as: an asset account. a contra asset account. an expense account. a contra revenue account.
The Sales Returns and Allowances account is classified as a contra revenue account.
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Asked 10/1/2013 8:34:08 PM
Updated 123 days ago|5/19/2018 2:13:59 AM
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This answer has been confirmed as correct and helpful.
Edited by Masamune [5/19/2018 2:13:58 AM], Confirmed by Masamune [5/19/2018 2:13:59 AM], Masamune [5/19/2018 2:13:59 AM]
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The owner's capital account is closed at the end of each accounting period. TRUE or FALSE
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Updated 130 days ago|5/11/2018 4:25:01 PM
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The owner's capital account is closed at the end of each accounting period. FALSE.
Added 130 days ago|5/11/2018 4:24:52 PM
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After a supplier of merchandise is selected, the purchasing department issues a form called : a purchase invoice. a purchase order. a sale invoice. a purchase requisition
Weegy: After a supplier of merchandise is selected, the purchasing department issues a form called a purchase order. (More)
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Updated 6/1/2014 6:19:01 PM
1 Answer/Comment
Accounts Receivable has a normal debit balance.
Added 6/1/2014 6:19:01 PM
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The Purchases account is a (Points : 5) permanent account. temporary account. subsidiary account liability account.
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Updated 229 days ago|2/1/2018 7:42:38 AM
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The Purchases account is: a temporary account.
Added 230 days ago|1/31/2018 11:55:43 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [2/1/2018 7:42:39 AM]
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