When merchandise that was sold is returned, a credit to sales returns and allowances is made.
a. True
b. False
Indicate whether the statement is true or false
Question 2
An adjusted trial balance provides ________.
A) a list of accounts and their debit or credit balances after the temporary accounts have been closed
B) a chronological record of transactions
C) a list of financial statement line items and their debit or credit balances that is prepared before recording adjusting entries
D) none of these
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