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Gina's Flower Shop Received Payment in Full for Goods Sold

Question 61

Multiple Choice

Gina's Flower Shop received payment in full for goods sold within the discount period on a $1,000 sales invoice, terms 1/10, n/30. Which entry records this transaction?


A) Debit Accounts Receivable, credit Flower Sales for $1,000
B) Debit Cash, credit Accounts Receivable for $990
C) Debit Cash for $990, debit Sales Discount for $10, and credit Accounts Receivable for $1,000
D) Debit Cash for $990, debit Sales Discount for $10, and credit Flower Sales for $1,000

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