Which of the following would be recorded as a contra-asset? Select one a Sales returns and allowances @ b. Prepayments O. Accumulated depreciation od.). All of the above JC Manufacturing purchased inventory for 55.300 and also paid a 5260 freight bill. Manufacturing returned 45 of the goods to the seller and later took a 2 settlement discount. How much would Manufacturing pay for the inventory that it kept (Round your answer to the nearest whole number Nor M TO Select one 52973 0.52.337 12.15 e. None of the above 30 Pure Coples recorded cash collection on account by debiting Cash and crediting Accounts payable What will the trial balance show for this error? Ne 100 0 You much for cant To much for Too much for me Od the trance whance None of the End of year records for a business show $ Sale 50.000 Cost of sales 20,000 Selling expenses 4,000 Revenue received in advance 7.000 Depreciation expense 8,000 Discount received Discount allowed 2.800 Rent revenue 6.500 Selling expenses 42 2.500 During the closing process the credit to the Profit or loss Summary account would be Select one 559.000 b.166.000 c.536,500 d. 19.000 550,000