Using the following information, what is the amount of income from operations? Purchases $32,000 Selling expenses $ 960 5,700 6,370 Merchandise inventory, September 1 Merchandise inventory, September 30 Administrative expenses 910 Sales 63.000 Rent revenue 1.200 Interest expense 1.040 $32,870 $31.910 $30.710 $29.800 The entry to record the return of merchandise from a customer would include a debit to Sales credit to Sales debit to Customer Refunds Payable debit to Estimated Returns Inventory A chart of accounts for a merchandising business usually is the same as the chaft of accounts for a service business usually requires more accounts than does the chart of accounts for a service business usually is standardized by the FASB for all merchandising businesses always uses a three-digit numbering system Which transaction is normally recorded in a special journal? sales returns depreciation expense purchases on account credit from supplier for return of supplies purchased on account An adjustment resulting from a creditor reducing the amount owed on an unpaid invoice due to an invoicing error would be recorded in the general journal purchases journal e cash payments journal cash receipts journal