Question

Identify the correct classification

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Sales is a(n) (expense/revenue/asset) account and is reported on the (income/balance) (statement/sheet).

Answer 1

Sales is a revenue account and is reported on the income statement.

Step-by-step explanation:

The correct classification for Sales is a revenue account. Sales represents the income generated from the sales of goods or services. It is reported on the income statement, which is a financial statement that shows a company's revenues, expenses, and net income or loss.