Ask Question
23 July, 00:44

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

+1
Answers (1)
  1. 23 July, 01:06
    0
    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.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When a retail merchandising business sells goods to a customer the amount of the sold merchandise is credited to the merchandise inventory ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers