12- Which of the following accounts has a normal debit balance?

Discount received

Purchase Returns and Allowances

Sales Returns and Allowances

Sales

13- Beta Company purchased merchandise from Gama Company with freight terms of FOB

Destination. The freight costs will be paid by the:

transportation company.

buyer.

buyer and the seller.

seller.

14- A perpetual inventory system would likely be used by a:

Grocery store

Automobile dealership

Pharmacy

Building materials store