Indicate the Account(s) to Be Debited and Credited to Record

question 89

Multiple Choice

Indicate the account(s) to be debited and credited to record the following transactions.

-Sold merchandise in exchange for cash. - Periodic
Debit ________ Credit ________

• A) Cash
• B) Accounts receivable
• C) Merchandise inventory
• D) Supplies
• E) Accounts payable
• F) Sales
• G) Sales returns and allowances
• H) Sales discounts
• I) Cost of goods sold
• J) Purchases
• K) Purchase returns and allowances
• L)Purchase discounts
• M) Freight-in

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Definitions:

Ignoring Information

The deliberate or unconscious avoidance of acknowledging facts, data, or feedback that may be relevant or important.

Perceptual Mistake

An error in the way sensory information is interpreted or understood, often leading to incorrect judgments or assumptions.

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A formal meeting in which a potential employer evaluates a job applicant's qualifications and fitness for a position.

Stimulus

Anything that provokes a response or reaction from an organism, system, or individual.