Figure 41-7
-In the accompanying figure, what is the function of load contacts 1M?
Definitions:
Store Equipment
The fixtures, furniture, and machinery used in a retail operation to display and manage merchandise.
Normal Balance
A rephrased definition: The standard or expected balance side (debit or credit) of an account according to standard accounting principles.
Merchandise Inventory
Goods or products that a retailer, wholesaler, or distributor holds for the purpose of resale to customers.
Debit
An accounting entry that increases asset or expense accounts, or decreases liabilities or equity accounts, recorded on the left side of an accounting ledger.
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