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5. Which of the following accounts is classified as a contra revenue account? A) B) C) D) Sales Revenue Cost of Goods Sold Sales Returns

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5. Which of the following accounts is classified as a contra revenue account? A) B) C) D) Sales Revenue Cost of Goods Sold Sales Returns and Allowances Purchase Discounts 6. Sales revenues are usually considered earned when A) B) C) D) cash is received from credit sales. an order is received goods have been transferred from the seller to the buyer. adjusting entries are made

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