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1) 2) Which of the following is correct? Multiple Choice Purchases is an expense account and carries a credit balance. Purchases Discounts is a contra

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Which of the following is correct? Multiple Choice Purchases is an expense account and carries a credit balance. Purchases Discounts is a contra expense account and carries a credit balance. Purchases is an asset account and carries a credit balance. Purchases Discounts is an expense account and carries a debit balance. Purchases is a temporary account. Multiple Choice , asset liability revenue expense

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