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2. On April 2, Kelvin sold $40,000 of inventory items on credit with the terms 1/10, net n/30. Payment on $24,000 sales was received on April 8 and the remaining payment on $16,000 sales was received on April 27. Assuming Kelvin uses the gross method of accounting for sales discounts, the entry recorded on April 8 would be a. Debit to Cash for $23,760 and Sales Discounts for $240 and credit to Accounts Receivable for $24,000. b. Debit to Cash for $23,760 and credit to Accounts Receivable for $23,760. c. Debit to Cash for $24,000 and credit to Accounts Receivable for $24,000. d. Debit to Cash for $24,000 and credit to Sales Discounts Forfeited for $240 and Accounts Receivable for $23,760. 3. Which of the following journal entry is correct when a company writes off an account receivable under the allowance method? a. Debit Bad Debt Expense, credit Allowance for Doubtful Accounts. b. Debit Accounts Receivable, credit Allowance for Doubtful Accounts c. Debit Allowance for Doubtful Accounts, credit Accounts Receivable. d. Debit Allowance for Doubtful Accounts, credit Bad Debt Expense. TALLE