LO2 Sales Returns and Allowances is debited for the amount of the including the sales tax on that and amount. LO2 Cash discounts are offered to encourage prompt payment by who buy on account. LO2 A credit sale of $250 plus a 6% sales tax would require a Accounts Receivable of $15 $280. $30 $265. LO2 When $25 of merchandise is returned for a credit on is the amount of the credit to Accounts Receivable, assuming a 6 rate? $1.50 $25.00 $26.50 $31.00 LO3 When $300, plus sales tax of 6%, is received for an amount owed, Cash is debited for what amount? $18 $318 $300 $282 LO3 When credit sales are $325 plus sales tax of 5%, and there credit card fee of 3%, what is the debit to Bank Credit Card $16.25 $10.24 $341.25 $331.01 LO3 Cash receipts should be posted to accounts daily. be posted to customer accounts weekly. be posted to customer accounts at the end of the month. not be posted