Within 10 days following a sale, a company receives payment of a $20,000 account receivable with terms of 2/10, n/30. Which of these sales discounts will it record? O (100% - 2%) × $20,000 O (100% - 10%) x $20,000 O 10% of $20,000 O 2% of $20.000

Within 10 days following a sale, a company receives payment of a $20,000 account receivable with terms of 2/10, n/30. Which of these sales discounts will it record? O (100% - 2%) × $20,000 O (100% - 10%) x $20,000 O 10% of $20,000 O 2% of $20.000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Question

Within 10 days following a sale, a company receives payment of a $20,000 account receivable with terms of 2/10, n/30. Which of these sales discounts will it record?
O (100% - 2%) × $20,000
O (100% - 10%) × $20,000
O 10% of $20,000
O 2% of $20,000

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