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Monica's Closet received payment in full within the discount period for goods sold on a $1,000 sales invoice, terms 2/10, n/30. Which entry records this
Monica's Closet received payment in full within the discount period for goods sold on a $1,000 sales invoice, terms 2/10, n/30. Which entry records this payment? (Round your calculations to the nearest whole dollar.)
A.
Debit Cash $1,000; credit Accounts Receivable $1,000
B.
Debit Accounts Receivable $1,000; credit Sales $1,000
C.
Debit Cash $980, debit Sales Discount $20; credit Sales $1,000
D.
Debit Cash $980, debit Sales Discount $20; credit Accounts Receivable $1,000
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