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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

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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 17,20197 1. Accounts receivable Debit $80,000 3. Accounts receivable Debit 556,000 Accounts receivable Debit $54,880 2. Accounts receivable Credit $56,000 A c B D

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