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Merchandise was sold on credit for $3,000, terms 1/10, n/30. The entry to record the cash collection should include which of the following? Multiple Choice
Merchandise was sold on credit for $3,000, terms 1/10, n/30. The entry to record the cash collection should include which of the following? Multiple Choice Debit Cash, $3,000, and credit Trade Receivables, $2,970, and Sales Discount, $30, if collected after the discount period. Debit Cash, $3,000, and credit Trade Receivables, $3,000, if collected after the discount period. Debit Cash, $3,000, and credit Trade Receivables, $3,000, if collected within the discount period. Debit Cash, $3,000, and credit Trade Receivables, $2,970, and Sales Discount, $30, if collected within the discount period
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