Question
1) Merchandise with a sales price of $5,000 is sold on account with term 2/10, n/30. The journal entry to record the sale would include
1) Merchandise with a sales price of $5,000 is sold on account with term 2/10, n/30. The journal entry to record the sale would include a:
a. credit to Sales for $4,900 b. debit to Cash for $5,000 c. debit to Sales Discounts for $100 d.debit to Accounts Receivable
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Cost And Management Accounting
Authors: Duncan Williamson
1st Edition
0132059231, 978-0132059237
