Achillios Industries extends credit to its customers on terms 4/12, net 25. On 11 December 2014 a
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Achillios Industries extends credit to its customers on terms 4/12, net 25. On 11 December 2014 a customer purchases €210 799 in merchandise. On 25 December 2014 payment is received by Achillios. The journal entry to record the payment would contain:
a. €8431.96 credit to sales discount
b. No entry to sales discount or sales returns and allowances
c. €8431.96 credit to sales returns and allowances
d. €8431.96 debit to sales returns and allowances LO1.
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