Answered: The accounts related to the revenue…

The accounts related to the revenue cycle include all of the following except: A. Inventories. B. Accounts receivable. C. Sales return and allowance. D. Sales. E. Bad debt expense.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 23MC: Which of the following accounts would not be reported under revenue on a simple income statement? A....

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Concept explainers

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.

Question

The accounts related to the revenue cycle include all of the following except:

	A.	Inventories.
	B.	Accounts receivable.
	C.	Sales return and allowance.
	D.	Sales.
	E.	Bad debt expense.

Definition Definition Receivable amount that a company is owed, but did not receive, and which may not be receivable in future.

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