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Joy & Co sold goods on credit for 20,000 on 16 Feb 2021 to Toy & Co on terms 3/5; n/30. Toy paid on 21

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Joy & Co sold goods on credit for 20,000 on 16 Feb 2021 to Toy & Co on terms 3/5; n/30. Toy paid on 21 Feb 2021. Journal Entry to book the transaction on 21 Feb in Joy's books will be A. Debit Cash $19,400 Credit Discount $600 Credit AP $20,000 B. Debit Cash $20,400 Debit Discount $600 Credit AR $21,000 C. Debit Cash $20,000 Credit AR $20,000 D. Debit Cash $19,600 Debit Discount $400 Credit AR $20,000 6:30 PM 2 UNREAD MESSAGES Total amount of depreciation of an asset cannot exceed its: A. Residual value B. Market value C. Depreciation value D. Cannot say accurately 6:30 PM

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