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ABC Company uses the gross method to record sales made on credit to customers. On 5/1/21 ABC sold $9,000 goods with terms 2/10, n/30 to

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ABC Company uses the gross method to record sales made on credit to customers. On 5/1/21 ABC sold $9,000 goods with terms 2/10, n/30 to XYZ Company, XYZ Company paid the entire amount of the purchase within the discount period. Which of the following would be recorded by ABC Company upon the receipt of payment? Debit Cash $9.000 Debit Cash $8,820 Credit Sales Discount 180 Credit Accounts Receivable 58,820

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