A) $300 B) $270

question 24

Multiple Choice

• A) $300
• B) $270
• C) $100
• D) $200

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Definitions:

Sales Returns

Goods returned by the buyer to the seller, leading to a reduction in the seller's revenue.

Contra-Revenue Account

An account that is used to record deductions from gross revenue, resulting in net revenue.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and profits or losses.