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

question 6

Multiple Choice

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

-Sold merchandise in exchange for cash. - Perpetual
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