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Purchases returns and allowances

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Reference no: EM131122789

Indicate which of the following accounts would be included in the chart of accounts of a merchandising company using either the 

(a) Periodic inventory system or 

(b) Perpetual inventory system. If the account would be included in the chart of accounts of a company using the periodic and perpetual systems, indicate 

(c) For both.

(1) Cost of Merchandise Sold

(2) Delivery Expense

(3) Merchandise Inventory

(4) Purchases

(5) Purchases Discounts

(6) Purchases Returns and Allowances

(7) Sales

(8) Sales Discounts

(9) Sales Returns and Allowances

(10) Freight In 

Reference no: EM131122789

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