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Lamcy Company, a manufacturer of electric equipment, sold 200 units to Radius Company on November 17,2019. The units have a list price of $400 each,

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Lamcy Company, a manufacturer of electric equipment, sold 200 units to Radius Company on November 17,2019. The units have a list price of $400 each, but Radius was given a 30% trade discount. The terms of the sale were 2/10, n/ 30 . Assume that Lamcy Company uses net method of accounting for cash discount. Which of the following should be true on November 17, 2019? 1. Accounts receivable Debit $80,000 3. Accounts receivable Debit $56,000 3. Accounts receivable Debit $54,880 3. Accounts receivable Credit $56,000

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