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please answer both will upvote Match each item with one financial statement classification: Cash deposited in a 5-year bond sinking fund Travel advance of cash
please answer both will upvote
Match each item with one financial statement classification: Cash deposited in a 5-year bond sinking fund Travel advance of cash to an employee for business travel Question 2 On June 30,201, Chelsea Inc. sold merchandise for $1,500 on credit terms 2/10,n/30. Chelsea accounts for sales discounts using the gross method. If the customer pays the balance in full on July 8,201, Chelsea's entry would include a Credit to Accounts Receivable for $1,500. Debit to Sales Discount Lost for $30. None of these are correct. Debit to Cash for $1,500. Debit to Accounts Receivable for $30 Step by Step Solution
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