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Business · Accounting
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A store accidentally priced an item at $20 instead of $30 and honored the mispricing. Where should the store attribute the $10 difference? SELECT ONLY ONE Returns and Allowances Profit (Loss) Sales Operating Expenses Cost of Goods SoldMr. Decker invested $20,000 in cash in his new business. How does the company record the investment? SELECT ONLY ONE debit Cash and credit Investments debit Cash and credit Retained Earnings debit Cash and credit Owners Equity credit Cash and debit Investments credit Cash and debit Owners EquityA company receives a telephone bill. Which category and subcategory should be updated to reflect the bill? Financial Statement REVENUE&COGS Gross Sales Less Net Sales Less Gross Profit (Loss) Sales Returns and Allowances Cost of Goods Sold EXPENSES Advertising Legal and Professional Fees Lawyer Accountant Payroll Rent Repairs and Maintenance Office Equipment Utilities Electricity Telephone Vehicle Total Expenses et Operating Income SELECT ONLY ONE EXPENSES; Utilities REVENUE &COGS; Cost of Goods Sold EXPENSES; Repairs and Maintenance

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