Indicate the Account(s) to Be Debited and Credited to Record

question 43

Multiple Choice

Indicate the account(s) to be debited and credited to record the following transactions.

-Paid for merchandise within the discount period. - Perpetual
Debit ________ Credit ________ & ________

• A) Cash
• B) Accounts receivable
• C) Merchandise inventory
• D) Supplies
• E) Accounts payable
• F) Sales
• G) Sales returns and allowances
• H) Sales discounts
• I) Cost of goods sold
• J) Purchases
• K) Purchase returns and allowances
• L)Purchase discounts
• M) Freight-in

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Definitions:

Imbricated Clasts

Rock fragments arranged in a way that they overlap each other like shingles on a roof, typical in sediment deposited by flowing water.

Earthquake

A sudden and violent shaking of the ground, often caused by movement within the Earth's crust or volcanic action.

Sedimentary Rocks

Rocks formed by the accumulation and consolidation of sediment, often in layers, under pressure over time.

Landslides

Rapid movements of rock and soil down a slope due to gravity.