Advertising Expenses, Freight-in and Salaries of Salespersons are classified as selling expenses * True False Gross profit and income from operations are reported on a multiple-step and a single-step income statement. * True False Prior period adjustments are always deducted to the retained earnings as Reported amount in the Retained Earnings Statement * True False The performance of services to the customers might results in an increase in the cash balance by crediting it in the journal entry * True False The normal balance of both sales revenues and service revenues is credit and they are reported in the income statement * True False