<h3><u>Answer;</u></h3>
credit, debit, and debit, respectively
<h3><u>Explanation</u>;</h3>
Normal balance of sales; Credit
Normal balance of sales discount; Debit
Normal balance of sale returns and allowances; Debit
- A normal balance is the expectation that a particular type of account will have either a debit or a credit balance.
- The normal balance of sales is credit.
- The sales returns and allowances account is subtracted from sales because these accounts have the opposite effect on net income. Therefore, sales returns and allowances is considered a contra‐revenue account, which normally has a debit balance.
- The account Sales Discounts is referred to as a contra-revenue account. Therefore; its is debit balance.
I know Bonds help you get what you need when you need it. Such as, having a bond with a business in Art, they could provide logos, t-shirt designs, etc.
Answer:
Nicole has profit $400 ....,.............
Answer:
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Explanation:
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Answer:
Consider the following analysis.
Explanation:
<em>Journal Entries
</em>
- Income tax expense.............$4,0000,000
- Deferred tax liability (10 million - 7 million )*40%........$1,200,00
- Income tax payable (7 million * 40% )................$2,800,000
Using decimals is 4.0, 1.2, and 2.8.