JCPenney Issues Its Own Credit Cards to Its Customers Who

question 21

Multiple Choice

JCPenney issues its own credit cards to its customers who have established credit with them. It's customers used these cards to charge $300 worth of sales. There is no sales tax associated with the sales. JCPenney would record these sales by:

• A)debiting Accounts Receivable $300 and crediting Sales $300.
• B)debiting Charge Card Sales $300 and crediting Sales Returns and Allowances $300.
• C)debiting Cash $300 and crediting Sales $300.
• D)debiting Sales $300 and crediting Accounts Receivable $300.

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Definitions:

Same Sex Marriage

The legally or socially recognized marriage between two individuals of the same biological sex or gender identity.

Church Attendance

The act of going to church services which is sometimes tracked for sociological research or personal behavior analysis.

Dependent Variable

A variable whose value is dependent on the effects of one or more independent variables in an experiment or study.

Gambling Behavior

Pertains to the patterns of wagering on events with an uncertain outcome, including the motivations, psychological implications, and outcomes associated with such activities.