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Merchandise with a sales price of $4,000 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include
Merchandise with a sales price of $4,000 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a Oa. credit to Sales for $3,920 Ob. debit to Customer Refunds Payable for $80 Oc. dehit to Accounts Receivable for $4,000 Od. debit to Cash for $4,000
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Accounting
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
Volume 1, 2nd canadian Edition
176509739, 978-0176509736, 978-0176509743
