Reference no: EM132689438

Question 1: A customer wanted to know the remaining balance on their account. This information would be located on the:

Option 1: Accounts Receivable - general ledger account

Option 2: Sales Journal

Option 3: Accounts Receivable - subsidiary ledger

Option 4: Accounts Payable - subsidiary ledger

Question 2: In determining the cost of goods sold under the periodic inventory method, which account is NOT affected?

Option 1: Sales discounts

Option 2: Purchase returns and allowances

Option 3: Purchase discounts

Option 4: Inventory