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Author Question: When merchandise that was sold is returned, a credit to sales returns and allowances is made. a. ... (Read 100 times)

stevenposner

  • Hero Member
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on: Jul 5, 2018
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


jomama

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  • Posts: 346
Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

D


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