AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the gross method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale? Debit Accounts Receivable for $24,750. O Debit Accounts Receivable for $24,750 and Sales Discounts for $250. Debit Accounts Receivable for $25,000. Debit Accounts Receivable for $25,000 and Sales Discounts for $250. QUESTION 24 Becky had net sales (all on account) in 2017 of $8,000,000. On December 31, 2017, before adjusting entries, the balances in selected accounts were: accounts receivable $1,000,000 debit and allowance for doubtful accounts $2,000 debit. Becky estimates that 3% of its accounts receivable will prove to be uncollectible. What is the net realizable value of the receivables reported on the financial statements at December 31, 2017? $32,000 $972,000 $968,000 $970,000 QUESTION 25 On January 1, 2017, West Co. exchanged equipment for an $800,000 zero-interest-bearing note due on January 1, 2020. The prevailing rate of interest for a note of this type on January 1, 2017, was 10%. The present value of $1 at 10% for three periods is 0.75. What amount of interest revenue should be included in West's 2018 income statement? $0 $60,000 $66,000 $80,000