Paragraph 2 Styles 1 3 4 5 6 cct 3201 8. AG Inc, made a $25,000 sale on account with the following terms: 2/10, n/30. If the company uses the net method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale? a. Debit Accounts Receivable for $24,500. b. Debit Accounts Receivable for $24,500 and Sales Discounts for $500. c. Debit Accounts Receivable for $25,000. d Debit Accounts Receivable for $25,000 and Sales Discounts for $500. 9. Sun Inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the accounts receivable for possible adjustments. What would be recorded as a gain (loss) on the transfer of receivables? a Loss of $300,000 b. Gain of $530,000 c. Loss of $1,130,000 d. Loss of $230,000 121. Sun Inc. factors $6,000,000 of its accounts receivables with recourse for a finance charge of 3% The finance company retains an amount equal to 10% of the accounts receivable for possible I adjustments. Sun estimates the fair value of the recourse liability at $300,000. What would be Tecorded as a gain (loss) on the transfer of receivables? a Gain of $180,000. b. Loss of $480,000. c. Gain of $1,080.000 d. Loss of $300,000 Focus BE O E g PHILIPS