The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit to O Accounts Receivable for $4000. O Sales Discounts for $80. O Cash for $3920. O Sales Revenue for $4000.
The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit to O Accounts Receivable for $4000. O Sales Discounts for $80. O Cash for $3920. O Sales Revenue for $4000.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...
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![The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit
to
O Accounts Receivable for $4000.
O Sales Discounts for $80.
O Cash for $3920.
O Sales Revenue for $4000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F06542047-0401-4d3a-b1a2-8b45c85903cf%2F04d11bfc-6c6b-4a2c-bc43-7513c71278d7%2Flp79s5o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit
to
O Accounts Receivable for $4000.
O Sales Discounts for $80.
O Cash for $3920.
O Sales Revenue for $4000.
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