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19 18) thg usual balance in a Contra-Revenue account is a: DR B) It depends C) CR 49) Below is the company's Cash T-account. Beg.

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18) thg usual balance in a Contra-Revenue account is a: DR B) It depends C) CR 49) Below is the company's Cash T-account. Beg. Cash 1.200 5.200 3.100 End. 3.300 The $5,200 amount could represent which of the following? A) Ending balance of cash. B) Purchase of supplies on account. C) Collection from customers. Payment for salaries. creditsales/AR 20) ABC reports the following information for the year: Net credit sales $120,000 20,000 100,000 Average accounts receivable Cash collections on credit sales n 's receivables turnover ratio? 2 60

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