Which of the following accounts would be increased with a credit? a. Collins, Capital; Accounts Receivable; Unearned Revenue b. Land; Accounts Payable; Drawing c. Cash; Accounts Receivable; Collins, Capital d. Accounts Payable; Unearned Revenue; Collins, Capital

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.