When Sales of Merchandise Are Made for Cash, the Transaction

question 172

Multiple Choice

When sales of merchandise are made for cash, the transaction may be recorded by the following entry:

• A)Debit Sales Revenue, credit Cash
• B)Debit Cash, credit Sales Revenue
• C)Debit Sales Revenue, credit Cash Discounts
• D)Debit Sales Revenue, credit Sales Returns and Allowances

---

Definitions:

Delegated

The process of assigning responsibility or authority to another person to carry out specific activities while the original person retains overall responsibility.

Accountability

The obligation of individuals or organizations to account for their activities, accept responsibility for them, and disclose the results in a transparent manner.

Ambulation

The ability to walk from place to place independently with or without assistive devices.

Documenting

The process of systematically recording and maintaining information relevant to a particular field or activity.