Ask Question
19 February, 23:50

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

+2
Answers (1)
  1. 20 February, 02:20
    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?
Get 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 there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers