When a retail merchandising business sells goods to a customer the amount of the sold merchandise is credited to the merchandise

Question

kondaur [170]

3 years ago

6

When a retail merchandising business sells goods to a customer the amount of the sold merchandise is credited to the merchandise

inventory account

Business

1 answer:

Ghella [55] · Answer 1 · 2021-12-07T21:08:59+03:00

Answer: False

Explanation:

The revenue account for a Retail Merchandising Business is also known as the Sales Account.

When goods are sold they are credited to the Sales Account and it is no different here.

Therefore, When a Retail Merchandising Business sells goods to a customer the amount of the sold merchandise is credited to the Sales Account which makes the above statement false.