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February 1, Adams Company sold merchandise on credit with a list price of $8,400. Terms were 3/15, n/45. Which of the following entries correctly applies
February 1, Adams Company sold merchandise on credit with a list price of $8,400. Terms were 3/15, n/45. Which of the following entries correctly applies the indicated method to receive the appropriate customer payment on February 12?
| Net Price Method | |||
| Cash | 8,400 | ||
| Sales Revenue | 252 | ||
| Accounts Receivable | 8,148 | ||
| Gross Price Method | |||
| Cash | 8,148 | ||
| Accounts Receivable | 8,148 | ||
| Net Price Method | |||
| Cash | 8,148 | ||
| Accounts Receivable | 8,148 | ||
| Gross Price Method | |||
| Cash | 8,400 | ||
| Accounts Receivable | 8,400 | ||
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