6. Freight costs incurred by a seller on outgoing merchandise are debited to a. the Cost of Goods Sold account. b. the Sales Revenue account. C. an operating expense account. d. the Sales Returns and Allowances account.

6. Freight costs incurred by a seller on outgoing merchandise are debited to a. the Cost of Goods Sold account. b. the Sales Revenue account. C. an operating expense account. d. the Sales Returns and Allowances account.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

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