3. The Merchandise Inventory account had a balance of $45,000 on December 31, but a physical inventory taken on that date indicated that $44,400 was actually on hand. a. Merchandise Inventory 600 Cost of Goods Sold 600 b. Cost of Goods Sold 600 Merchandise Inventory 600 c. Merchandise Inventory 600 Sales 600 d. Sales 600 Merchandise Inventory 600 e. Sales Returns and Allowances 600 Merchandise Inventory 600 III. Questions 14 to 22 cover various topics.

14. Which of the following accounts is a control account with a subsidiary ledger? a. Merchandise Inventory d. b and c b. Accounts Receivable e. a, b, and c c. Accounts Payable