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Cupcake Corp. has sold goods at terms 2/10, n/30. If the discount is not taken, the amount receivable is $8,725. The entry to record the
Cupcake Corp. has sold goods at terms 2/10, n/30. If the discount is not taken, the amount receivable is $8,725. The entry to record the sale is
Select one:
a. a debit and credit of $8,725 to Accounts Receivable and Sales respectively.
b. debits of $8,550.50 and $174.50 to Accounts Receivable and "Forfeited Sales Discounts" respectively, and a credit to Sales for the total.
c. a debit and credit of $8,550.50 to Accounts Receivable and Sales respectively.
d. a debit and credit of $7,852.50 to Accounts Receivable and Sales respectively.
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