Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Omani Marble Company LLC sells (on credit) OMR 15000 Marble to a retailer with credit terms of 3/10, n/30. If OMR 9,000 of the account

image text in transcribed
Omani Marble Company LLC sells (on credit) OMR 15000 Marble to a retailer with credit terms of 3/10, n/30. If OMR 9,000 of the account receivable is collected from the customer within the ten-days discount period, identify the journal entry from the following. O a. Dr Cash OMR 9000 and Cr Accounts receivables OMR 9000 b. Dr Cash OMR 8730 Dr sales discount OMR 270 and Cr Accounts receivables OMR 9000 c. Dr Accounts receivables OMR 9000 and Cr Cash OMR 8730 Cr sales discount OMR 270 9 d. Dr Cash OMR 15000 and Cr Accounts receivables OMR 15000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Version 3.1

Authors: Joe Ben Hoyle, C.J. Skender, Leah Kratz

1st Edition

1453339442, 9781453339442

More Books

Students also viewed these Accounting questions