7) SBA Inc. makes a $265,750 sale to DBA Corp. on July 29 2020 with credit terms of 2/10,n/60. What's the meaning of 2/10, n/602 (Select 13pts) Paying $260,435 within 10 days or $265,750 within 60 days. Paying $260,435 within 10 days or $265,750 after 60 days. O Paying $265,750 after 60 days. O Paying $260,435 within 10 days 8) SBA Inc. makes a $265,750 sale to DBA Corp. on July 29 2020 with credit terms of 2/10, n/60. Assume further that DBA Corp. is able to pay only 80% within 60 days. After pursuing the account for 8 months, the credit department of SBA Inc. informs the accounting department that it has given up on collecting the remainder amount and advises that the account be written off. Required: Record the Bad Debt according to the Allowance method? (Select 1)(3pts) Debiting Bad Debts Expense and Crediting Accounts Receivable by $53,150 Debiting Bad Debts Expense and Crediting Allowance for Doubtful Accounts by $53,150 O Debiting Bad Debts Expense and Crediting Allowance for Doubtful Accounts by $212,600 O Debiting Bad Debts Expense and Crediting Accounts Receivable by $212,600