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On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. How would Flores record
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. How would Flores record the sale on November 10?
| Transaction | Account Title | Debit | Credit |
|---|---|---|---|
| A. | Accounts Receivable | 7,840 | |
| Sales Revenue | 7,840 | ||
| B. | Accounts Receivable | 8,000 | |
| Sales Revenue | 8,000 | ||
| C. | Accounts Receivable | 7,840 | |
| Sales Discounts | 160 | ||
| Sales Revenue | 8,000 | ||
| D. | Accounts Receivable | 8,000 | |
| Sales Discounts | 160 | ||
| Sales Revenue | 7,840 |
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Accounting For Managers Financial Accounting
Authors: Morusu Sivasankar
1st Edition
6200624909, 978-6200624901
