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se the following to answer questions 25-27: Account Name Debit iles Credit 75,000 1,500 1,000...

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Accounting

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se the following to answer questions 25-27: Account Name Debit iles Credit 75,000 1,500 1,000 17,000 ules Returns and Allowances les Discounts irchases urchases Returns and Allowances eight In lling Expenses neral and Administrative Expenses 2,000 3,000 7,500 27,500 addition, beginning merchandise inventory was $5,500 and ending merchandise inventory was $3,500. B) True De is a type of expense. False 29. Another name to A) True name for the ledger is the book of original entry. B) False 30. An increase in an A) True B) False case in an asset is recorded by a debit. 31. Unearned revenues ar A) True rned revenues are classified as liabilities on the balanc B) False Owner's withdrawals are classified as an expense. A) True B) False 33. A decrease in a liability is recorded by a debit. A) True B) False

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