SE$5-1.$ Merchandising versus Service Firm For each of the following accounts, indicate whether it would

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be found in the records of a merchandising firm, a service firm, or both.

a$.$ Cost of goods sold.

e$.$ Accounts receivable.

b$.$ Service revenue.

f$.$ Accounts payable.

c$.$ Purchase returns and allowances.

g$.$ Sales revenue.

d$.$ Inventory.

h$.$ Freight$-$out.