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Which of the following accounts usually has a debit balance?
a. Purchase Discounts
b. Sales Tax Payable
c. Allowance for Doubtful Accounts
d. Transportation-In

My guess would be b. Sales Tax...

Which of the following accounts has a normal credit balance?
a. Sales Returns & Allowances
b. Sales
c. Merchandise Inventory
d. Delivery Expense

My guess would be b. Sales
But I'm not sure.

Special journal entries are
a. All posted at the end of the accounting period
b. Posted either daily or monthly depending on the accounts used
c. All posted daily
d. Recorded in addition to the...

When a sale takes place for $1,000 and a deposit of $100 is required, the $900 on account is recorded into the Revenue journal and the $100 cash is recorded into the Cash Receipts journal.
Would...