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On March 1, 200X Bravo Company sells $6,000 of services on credit terms offering a 2% discount if paid within ten days. They are paid
On March 1, 200X Bravo Company sells $6,000 of services on credit terms offering a 2% discount if paid within ten days. They are paid on March 3. The customer takes the discount, what is Bravo Companys accounting entry on March 3, 200X?
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Debit cash $5,880; credit accounts receivable $6,000.
Debit cash $5,880; credit accounts receivable $5,880.
Debit cash $5,880; debit sales discount $120; credit accounts receivable $6,000.
Debit cash $6,000; credit accounts receivable $6,000.
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