true or false? sales tax payable is recorded on the books of the purchaser. true or false? an investment of cash by the owner is recorded in the general journal unless a cash receipts Journal is used. true or false? if the terms of sale are 1/10, n\30, the buyer has 30 days after the date of the invoice to take advantage of a 1% cash discount. true or false? when goods are bought under the Perpetual inventory system, merchandise inventory is credited. true or false? taking a physical count of the merchandise is optional under a periodic inventory system.

correct and help me.

Which of the following accounts normally has a credit balance? a. Purchases Returns and Allowances Ob. Sales Discounts c. Sales Returns and Allowances Od. Accounts Receivable e. Purchases Clear All Property and equipment Long-lived assets Reversing entries Once-a-year accounting entries recorded on the first day of the fiscal period Gross profit The ability to convert assets quickly into cash Working capital The firm's excess of its current assets over its current liabilities Liquidit Excess of net sales over the cost of goods sold An inventory system that debits Purchases when goods are bought Unearned Revenue Income Summary Liability account that is credited when cash is received in advance for the delivery of goods or services to be earned in two fiscal periods Beginning merchandise inventory Merchandise Inventory that appears in the Income Statement Debit column of the work sheet Periodic inventory system The credit account of the adjustment for accrued payroll Wages Payable Temporary account used for adjusting Merchandise Inventory account Clear All Cash discount Special journal used to record all transactions where cash is received Credit terms Special journal used for recording transactions decreasing cash Cash payments journal A written promise to pay a specified amount at a specified time Promissory note Agreement between seller and buyer on payment Cash receipts journal Reduction from the invoice price for prompt payment