4 pointsSave Answe Question 6 When a sale takes place for $1.,000 and a s100 deposit is required, the $900 on account is recorded into the Revenue journal and the $100 cash is recorded into the Cash Receipts journal. True False 4 points Save Answe Question 7 What is the term applied to the excess of net revenue from sales over the cost of merchandise sold? O gross profit income from operations O net income gross salesl 4 points Save Answer Question 8 income that cannot be associated definitely with operations, such as a gain from the sale of a fixed asset, is listed as Other Income on the multiple-step income statement True False 4 points Save Amswer Question 9 Under a periodic inventory system, the merchandise on hand at the end of the year is determined by a physical count of the inventory True False Save and Submit Cliok Save and Submit to save and subnit. Ciek Save All Ansvers to sve all answers Save All Answers Save and Submit