The Sales Revenue of a Merchandiser Amounted to $22,000,sales Returns

question 99

Multiple Choice

The sales revenue of a merchandiser amounted to $22,000,sales returns and allowances amounted to $2,500,and sales discounts amounted to $800.The merchandiser uses a perpetual inventory system.The first entry in the closing process would include ________.

• A)a credit to Income Summary for $22,000
• B)a credit to Income Summary for $19,500
• C)a debit to Income Summary for $2,500
• D)a debit to Income Summary for $21,200

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Definitions:

Mating Approach

The strategies or behaviors employed by individuals to attract and engage with potential mates, which can vary widely across species.

Polyphenisms

The occurrence of two or more distinct phenotypes within a population due to environmental influences, rather than genetic differences.

Environmental Conditions

The various physical and biological factors that affect the living conditions of organisms in an ecosystem, including climate, terrain, water supply, and availability of food and predators.

Nonoverlapping

Pertaining to groups, generations, or time frames that do not intersect or share common elements.