Using the Letter Preceding Each Account, Arrange the Following Selected

question 157

Short Answer

Using the letter preceding each account, arrange the following selected accounts in the order they would normally appear in a chart of accounts of a company that uses a multiple-step income statement.
(a) Accounts Payable
(b) Accounts Receivable
(c) Merchandise Inventory
(d) Miscellaneous Selling Expense
(e) Sales Discounts
(f)Interest Expense
(g)Income Summary
(h)Misc. Adinin. Expense
(i)Freight Out
(j)Sales Returns and Allowances

---

Definitions:

Post-Secondary Institute

An educational institution that offers studies beyond the secondary level, such as colleges and universities.

Probability Distribution

A statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.

Correct Verb

The appropriate or accurate form of a verb that matches the subject in number and tense in a sentence.

Springfield

A common place name in English-speaking countries, often associated with towns or cities.