The Sales Returns and Allowances account is reported as a
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 23MC: Which of the following accounts would not be reported under revenue on a simple income statement? A....
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The Sales Returns and Allowances account is reported as a
a. Contra-revenue account on the income statement
b. Current liability on the balance sheet
c. Deduction from
d. Selling expense on the incone statement
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