Answered: Which of the following accounts is used…

Which of the following accounts is used in merchandising but not in service type of business? a. allowance for bad debts b. purchase discounts c. depreciation expense d. sales returns and allowances

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 13MC: Which of the following accounts are used when recording the sales entry of a sale on credit? A....

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Question

Which of the following accounts is used in merchandising but not in service type of business?

a. allowance for bad debts

b. purchase discounts

c. depreciation expense

d. sales returns and allowances

Definition Definition Receivable amount that a company is owed, but did not receive, and which may not be receivable in future.

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