Liverpool Corporation sold $32,000 of inventory items on credit on April 1, with the terms 1/10,...

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Liverpool Corporation sold $32,000 of inventory items on credit on April 1, with the terms 1/10, net 30. Payment on $16,000 sales was received on April 8 and the remaining payment on $16,000 sales was received on April 27. Assuming Kelvin uses the net method of accounting for sales discounts, the entry recorded on April 27 would include a: Select one: O a. debit to Cash and credit to Accounts Receivable for $15,840. O b. debit to Accounts Receivable and credit to Sales Revenue for $32,000. O c. debit to Cash for $15,840 and credit to Sales Discounts Forfeited for $160. O d. debit to Cash and credit to Sales Discounts Forfeited for $320. 120 43 02 54 W LL E S % 55 9 7 42 R T Y D F G 8 19 U 61 H 1 J Liverpool Corporation sold $32,000 of inventory items on credit on April 1, with the terms 1/10, net 30. Payment on $16,000 sales was received on April 8 and the remaining payment on $16,000 sales was received on April 27. Assuming Kelvin uses the net method of accounting for sales discounts, the entry recorded on April 27 would include a: Select one: O a. debit to Cash and credit to Accounts Receivable for $15,840. O b. debit to Accounts Receivable and credit to Sales Revenue for $32,000. O c. debit to Cash for $15,840 and credit to Sales Discounts Forfeited for $160. O d. debit to Cash and credit to Sales Discounts Forfeited for $320. 120 43 02 54 W LL E S % 55 9 7 42 R T Y D F G 8 19 U 61 H 1 J