Question
On December 15, 2024, Surf Clinic provided services to a customer on account for $4,000 with discount terms (credit terms) 2/10, n/30. Assume the customer
On December 15, 2024, Surf Clinic provided services to a customer on account for $4,000 with discount terms (credit terms) 2/10, n/30. Assume the customer pays the clinic the correct amount on January 13, 2025. What journal entry should the clinic make to record the collection of cash on January 13, 2025?
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The terms 210 n30 mean that the customer can take a 2 discount if payment is made within 10 days ...
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
978-1119786818, 1119786819
