Question and answer
The Sales Returns and Allowance account is credited for the selling price of any merchandise returned by a customer. true or false
Question
Asked 6/11/2013 9:46:05 AM
Updated 1/15/2015 6:49:24 PM
1 Answer/Comment
Flagged by debnjerry [1/15/2015 6:48:21 PM]
Get an answer
Original conversation
User: The Sales Returns and Allowance account is credited for the selling price of any merchandise returned by a customer. true or false

Question
Asked 6/11/2013 9:46:05 AM
Updated 1/15/2015 6:49:24 PM
1 Answer/Comment
Flagged by debnjerry [1/15/2015 6:48:21 PM]
New answers
Rating
3
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.
Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
The consistency principle states that, in general, accountants should use the same accounting methods from one period to the next.
Question
Expert Answered
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]
27,369,925
questions answered
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
Popular Conversations
All cardiovascular diseases are caused by poor lifestyle choices. ...
Weegy: All cardiovascular diseases are caused by poor lifestyle. False. User: The elimination of waste is the ...
9/22/2018 5:11:29 PM| 2 Answers
Government _____ and all of the rules associated with driving anger ...
Weegy: Anger is an emotion characterized by antagonism toward someone or something you feel has deliberately done you ...
9/23/2018 4:41:28 PM| 2 Answers
Which state was admitted as a free state in 1810? A. ...
Weegy: Maine was admitted as a free state in 1810. User: Why was John Quincy Adams not elected for a second term? ...
9/14/2018 2:55:00 PM| 2 Answers
Synonym for poor:
Weegy: A synonym is a word or phrase that means exactly or nearly the same as another word or phrase in the same ...
9/16/2018 4:15:32 PM| 2 Answers
S
L
Points 1274 [Total 1585] Ratings 15 Comments 1124 Invitations 0 Offline
S
R
L
R
P
R
P
R
R
R
R
Points 452 [Total 1336] Ratings 4 Comments 322 Invitations 9 Offline
S
L
R
P
R
P
R
P
R
Points 451 [Total 1226] Ratings 3 Comments 391 Invitations 3 Offline
S
L
P
P
P
Points 363 [Total 1239] Ratings 0 Comments 363 Invitations 0 Offline
S
L
R
Points 75 [Total 192] Ratings 0 Comments 75 Invitations 0 Offline
S
Points 33 [Total 33] Ratings 1 Comments 23 Invitations 0 Offline
S
Points 23 [Total 23] Ratings 0 Comments 23 Invitations 0 Offline
S
Points 13 [Total 13] Ratings 0 Comments 3 Invitations 1 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
S
L
1
R
Points 2 [Total 1453] Ratings 0 Comments 2 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.