current attempt in progress\nthe contra revenue account that normally has a debit balance is\n○ purchase…
current attempt in progress\nthe contra revenue account that normally has a debit balance is\n○ purchase returns and allowances.\n○ freight - out.\n○ purchase discounts.\n○ sales returns and allowances.
Answer
Brief Explanations:
- Purchase Returns and Allowances: It is a contra - purchase account, not a contra - revenue account.
- Freight - Out: It is an expense account, not a contra - revenue account.
- Purchase Discounts: It is a contra - purchase account, not a contra - revenue account.
- Sales Returns and Allowances: It is a contra - revenue account. When there are returns of goods sold or allowances given to customers (which reduce the revenue), this account is debited. So it normally has a debit balance.
Answer:
Sales Returns and Allowances.