Read the Description of Following Transactions That Are Required During

question 20

Essay

Read the description of following transactions that are required during the accounting period for Drummond Consulting Services. Determine the account to be debited and the account to be credited.
A. Received a check from a credit customer on account.
B. Accepted a return of merchandise from a credit customer. The original sale involved sales tax.
C. Sold merchandise on credit. The transaction involved sales tax.
D. Gave an allowance to a credit customer for damaged merchandise. The original sale involved sales tax
E. Sold merchandise on credit. The transaction did not involve sales tax.

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Definitions:

Negotiating

The act of discussing to reach an agreement or compromise between parties with different views or objectives.

Overestimate

Involves estimating a value or number to be higher than it actually is, often due to bias or misinformation.

Social Skills

The abilities used to communicate and interact with others effectively, including verbal and non-verbal communication, empathy, and conflict resolution.

Sociograms

Visual representations or maps showing the social connections and interactions within a group, often used to identify relationships and social dynamics.