Question and answer
A customer returns merchandise that was delivered in poor condition and that does not meet specifications. The account that the seller would debit for the amount of the return is Answer A. Sales Revenue B. Purchases C. Purchase Returns and Allowances D. Sales Returns and Allowances
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A customer returns merchandise that was delivered in poor condition and that does not meet specifications. [ The account that the seller would debit for the amount of the return is Sales Returns and Allowances. ]
Expert answered|tina1959|Points 315|
Question
Asked 6/11/2013 9:49:52 AM
Updated 1/15/2015 6:51:42 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Edited by debnjerry [1/15/2015 6:51:40 PM], Confirmed by debnjerry [1/15/2015 6:51:42 PM]
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Questions asked by the same visitor
The Sales Returns and Allowance account is credited for the selling price of any merchandise returned by a customer. true or false
Question
Updated 1/15/2015 6:49:24 PM
1 Answer/Comment
The Sales Returns and Allowance account is credited for the selling price of any merchandise returned by a customer. This is FALSE. The sales Returns and Allowances account is a contra-revenue account and is debited when merchandise is returned by a customer.
Added 1/15/2015 6:49:24 PM
This answer has been confirmed as correct and helpful.
The consistency principle states that, in general, accountants should use the same accounting methods from one period to the next.
Question
Updated 3/9/2016 2:09:45 PM
1 Answer/Comment
The consistency principle states that, in general, accountants should use the same accounting methods from one period to the next. TRUE.
Added 3/9/2016 1:56:43 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [3/9/2016 2:09:49 PM]
Freight-in is an adjunct purchases account to which transportation charges on merchandise purchases are debited. Answer True False
Weegy: TRUE, Freight-in is an adjunct purchases account to which transportation charges on merchandise purchases are debited. (More)
Question
Updated 7/8/2014 8:38:52 AM
0 Answers/Comments
To reconcile the bank statement, which of the following amounts would be added to the bank statement ending balance? Answer A. the bank service charge B. outstanding checks. C. deposits in transit D. interest paid by the bank on the account balance.
Weegy: The answer is: B. outstanding checks. (More)
Question
Expert Answered
Updated 1/15/2015 6:51:05 PM
1 Answer/Comment
To reconcile the bank statement, DEPOSITS IN TRANSIT would be added to the bank statement ending balance.
Added 1/15/2015 6:51:04 PM
This answer has been confirmed as correct and helpful.
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