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What the sales returns and allowances account is a

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Reference no: EM132624180

Problem 1: The Sales Returns & Allowances account is a

Group of answer choices

Option 1: contra-revenue account

Option 2: asset account

Option 3: liability account

Option 4: equity account

Option 2: In a firm that uses special journals, an allowance given for damaged merchandise is recorded in the

Option 1: cash payments journal.

Option 2: cash receipts journal.

Option 3: general journal.

Option 4: purchases journal.

Reference no: EM132624180

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