Which of the Following Statements Regarding the Recording of Merchandising

question 12

Multiple Choice

Which of the following statements regarding the recording of merchandising journal entries in a perpetual inventory system is true?

• A)When a customer pays within the discount period,accounts receivable is credited for the full amount.
• B)If a customer pays within the discount period,sales discounts is credited.
• C)A sales return is recorded with entries that include a credit to sales returns and allowances.
• D)Sales of merchandise are recorded by entries that include a credit to cost of goods sold.

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Definitions:

Trimester

A term used to divide the nine-month period of pregnancy into three equal parts, each roughly three months long, to describe the stages of fetal development.

Developing Fetus

The stage in pregnancy when an embryo develops into a fetus, characterized by significant growth and development of bodily structures and organ systems.

Syphilis

A sexually transmitted infection that can attack major organ systems.

Utero

Utero refers to anything related to the uterus or occurring within the uterus, often used in medical or biological contexts concerning pregnancy or fetal development.