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On July 22, Paul sold $23,800 of inventory items on credit with the terms 2/15, net 30. Payment on $15,200 sales was received on August
On July 22, Paul sold $23,800 of inventory items on credit with the terms 2/15, net 30. Payment on $15,200 sales was received on August 1 and the remaining payment was received on August 12. Assuming Paul uses the net method of accounting for sales discounts, which one of the following entries was made on August 12 to record the cash received? Group of answer choices dr. Cash 8,600, cr. A/R 8,600 dr. Cash 8,600, cr. A/R 8,428,
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