1 when a sale of merchandise is made for credit on account, Ask an Expert

Finance

1. When a sale of merchandise is made for credit (on account), what three accounts are increased? What account is decreased?

2. Explain the account called "Retained Earnings". What does it represent?

What causes it to increase?

What causes it to decrease?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92784257

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