Identify the G.A.A.P. principle from the list below being used in each example [6 Points]

You record the shipping you paid on your merchandise as merchandise inventory _______________

Mr. Green has to prove all of his business transactions _______________

Ms. Pink buys $100 of goods, Mrs. White buys $100, but you only gave her $80 worth; you record $180 of revenue _______________

You record $100 of salary for this month, that you will pay next month; you record the expense & payable _______________

When Mr. Brown knew his business was being sold, he indicated it on his statements _______________

Ms. Red did not adjust her accounts due to increased foreign currency value _______________

Identify some differences in a business doing accounting for merchandising, versus services [5 points]