If a company originally sold inventory for $1,000 with terms 10/10 n/30, and the buyer pays within five days, then the company should record which of the following journal entries when the buyer pays? Debit Cash $900/ Credit Accounts Receivable $900 Debit Cash $1,000/ Credit Accounts Receivable $900/Credit Sales Discount $100 Debit Cash $1,000/Debit Accounts Receivable $950/Credit Sales Discount $50 Debit Cash $900/ Debit Sales Discount $100/Credit Accounts Receivable $1,000 In preparing a bank reconciliation, a firm must show that the adjusted bank balance equals the adjusted book balance. If the original bank balance is $1,500 and there is $200 of outstanding checks and $300 of deposits in transit, then what is the adjusted bank balance? $1,000 $1,600 $1,300 Not able to be determined from the facts In preparing a bank reconciliation, a firm must show that the adjusted bank balance equals the adjusted book balance. If the original book balance is $1,700 and there is $50 of interest received from the bank, $100 of EFT (electronic funds transfer into the account), and an insufficient funds check of $30 issued by the company, then what is the adjusted book balance? $1,820 $1,880 $1,620 Not able to be determined from the facts