Goods held for sale by a retailer in the normal course of business are known as: Goods held for sale by a retailer in the normal course of business are known as: Select one: a. Stock, inventory work-in-process O b. Inventory, stock, raw materials c. Merchandise, inventory O d. Stock, inventory, stock-in-trade The account, Sales Returns and Allowances, is classified as what type of The account, Sales Returns and Allowances, is classified as what type of account? Select one: O a. Contra account to Inventory 32 O b. Expense c. Contra account to sales revenue O d. Liability Brian sold goods to Mike on credit for $1100 including GST. The correct ... Brian sold goods to Mike on credit for $1100 including GST. The correct accounting entry to record this transaction Brian's books is: Select one: a. DR Accounts receivable $1100, CR Sales $1000, CR GST payable $100 b. DR Accounts receivable $1000, DR GST payable $100, CR Sales $1100 OC. DR Accounts receivable $1100, CR Sales $1100 d. DR Accounts receivable $1000, CR Sales $1000 What is the adjusting entries to record revenue received in advance which has... What is the adjusting entries to record revenue received in advance which has now earned: Select one: a. Insurance Expense Dr, Prepaid Insurance Cr O b. Revenue Dr, Unearned Revenue Cr O c. Unearned Revenue Dr, Revenue Cri O d. Prepaid Insurance Dr, Insurance Expense Cr Under the perpetual inventory system, the number of accounting entries ... Under the perpetual inventory system, the number of accounting entries required to record a credit sale is: Select one: a. 4 b. 1 C. 3 O d. 2