13.

Company Z made a sale on January 25 with the terms 4/5, n/60. Which of the following is true?

If the customer makes the payment on February 1, they will get a 4% discount

If the customer makes the payment on January 31, they will not get a discount

If the customer makes the payment on January 28, they will get a 5% discount

All of the above are false

14.

Company X sold inventory for $32,000 on August 1 with the terms 2/20, n/45. On August 25, they received payment for the balance due. The company uses the net method to record sales. Which of the following is true?

Company X records sales revenue of $32,000 on August 1

All of the above are false

Company X records an increase in cash of $31,360 on August 25

Company X records a reduction in accounts receivable of $31,360 on August 25