Sales Revenue of a Merchandiser Amounted to $20,000, Sales Returns

question 3

Multiple Choice

Sales revenue of a merchandiser amounted to $20,000, sales returns and allowances amounted to $2,500, and sales discounts of $700. The merchandiser uses a perpetual inventory system. The first entry in the closing process would include:

• A)a credit to Income Summary for $20,000.
• B)a credit to Income Summary for $17,500.
• C)a debit to Income Summary for $2,500.
• D)a debit to Income Summary for $19,300.

Recognize the role of association areas in integrating sensory inputs and directing motor outputs.

Understand the roles and functions of the nervous system.

Comprehend the basics of neurochemistry and the role of neurotransmitters.

Identify the components and functions of the central and peripheral nervous systems.