Under the periodic inventory system, Purchases Returns and Allowances is a contra account and is treated as a(n):

a.addition to Sales on the seller's income statement.

b.addition to Accounts Payable on the seller's balance sheet.

c.deduction from Accounts Receivable on the buyer's balance sheet.

d.deduction from Purchases on the buyer's income statement.

Which of the following accounts is a contra revenue account and is subtracted from Sales on an income statement?

a.Purchase Discounts

b.Accounts Payable

c.Accounts Receivable

d.Sales Discounts

Which of the following accounts is debited when merchandise is sold and the buyer uses a credit card for its payment?

a.Cash

b.Accounts Receivable

c.Sales

d.Credit Card

Which of the following is true of trade discounts?

a.They are journalized in the books of account.

b.They are allowed when selling prices are constant.

c.They are used to avoid the high cost of reprinting catalogs.

d.They are only offered by retailers to traders.

please answer all the questions