Given the Following Accounts

question 61

Short Answer

Given the following accounts:
[1] Cash
[2] Accounts receivable
[3] Merchandise inventory
[4] Supplies
[5] Accounts payable
[6] Sales
[7] Sales returns and allowances
[8] Sales discounts
[9] Cost of goods sold
[10] Purchases
[11] Purchase returns and allowances
[12] Purchase discounts
[13] Freight-in
Indicate the account(s) to be debited and credited to record the following transactions.
-Sold merchandise for cash.- Periodic
Debit ________ & ________ Credit ________ & ________

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Definitions:

Blisspoint

The optimal level of satisfaction or happiness an individual achieves from a specific action or set of circumstances, often used in consumer behavior studies.

Respond

To react or reply to something, typically as a result of external stimuli.

Matching Law

A theory stating that the proportion of responses directed towards one alternative corresponds to the proportion of reinforcements received from that alternative.

Shortest Delay

The minimal time interval between a signal and its associated outcome, often discussed in the context of learning and reaction times.