You work for a company and a customer calls to ask a question about his...
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Accounting
You work for a company and a customer calls to ask a question about his or her account. You would call the subsidiary accounts receivable ledger to your computer screen.
True
False
Selling expenses include all costs incurred to move merchandise from a company to its customers.
True
False
A company sells a product for $1,000 and the cost of the product to the company is $800. The gross profit (margin) is $1,800.
True
False
Transactions must be entered in both the general journal AND a specialized journal.
True
False
A company buys merchandise in the amount of $10,000, terms 2/10, n/30. This is the correct journal entry for the net method:
Merchandise Inventory 10,000
Accounts Payable 10,000
True
False
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