QUESTION 23 When a business receives a purchase discount for paying its supplier early, the discount amount: Is a credit to Purchase Discounts Is a credit to Inventory Is a credit to Cash Is a credit to Sales Discounts QUESTION 24 On February 1, 2020 Ling Company accepted a 4-year rental agreement from a tenant and accepted the full payment for the 4-years of rent for $12,000. The agreement also began on February 1, 2020, On December 31, 2020, Ling Company will report on their Balance Sheet $3,000 Rental Revenue. $2.750 Rent Expense. $12,000 Prepaid Rent 59.250 of Unearned Revenue