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

question 28

Multiple Choice

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

-Customer returned goods purchased on credit - 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

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Definitions:

Clamp-On Ammeter

A type of ammeter that can measure a wire's current without the need to disconnect it from the circuit, by clamping around the wire.

True Power

The actual power consumed by a circuit, measured in watts, as opposed to apparent power, which includes reactive power.

Series RC

A circuit configuration consisting of a resistor (R) and a capacitor (C) connected in a series arrangement.

Apparent Power

The total power in an AC circuit, equal to the product of the voltage and current, measured in volt-amperes (VA).