Hello, can you please answer the following question with a detail explanation to the answer of each question.

Thank you very much.

1 Which of the following accounts has a normal credit balance?

A.Sales Revenue

B.Merchandise Inventory INCORRECT

C.Sales Returns and Allowances

D.Transportation Out

2 A company with a gross profit of $25,900 and a net income $10,900 would have operating expenses of

A.$15,000

B.$10,900

C.cannot be determined from the information given INCORRECT

D.$36,800

Question 3

Account Name Debit Credit

Cash 950

Accounts Receivable 950

What type of transaction is this journal entry recording

A.to record the receipt of a payment within the credit terms offered INCORRECT

B.to record the receipt of a payment after the credit terms deadline or no terms offered

C.to record a payment on account after the credit terms deadline

D.to record a payment on account within the credit terms offered or no terms offered

4 A purchaser returns merchandise purchased for $400 on account. The purchasers journal entry to record this would include a debit to

A.accounts payable, $400

B.accounts receivable, $400

C.inventory, $400 INCORRECT

D.no journal entry required