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22 February, 08:30

When a retail merchandising business sells goods to a customer the amount of the sold merchandise is credited to the merchandise inventory account

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  1. 22 February, 08:38
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    Answer: False

    Explanation:

    The revenue account for a Retail Merchandising Business is also known as the Sales Account.

    When goods are sold they are credited to the Sales Account and it is no different here.

    Therefore, When a Retail Merchandising Business sells goods to a customer the amount of the sold merchandise is credited to the Sales Account which makes the above statement false.
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