Multiple Choice
Fraxon Inc. made a $40,000 sale on account with terms of 1/15, n/30. If the company uses the gross method, which of the following will be included in the journal entry to record customer payment within the discount period?
A) credit Accounts Receivable $40,000
B) credit Sales Discount $400
C) credit Sales Revenue $40,000
D) credit Cash $39,600
Correct Answer:
Verified
Correct Answer:
Verified
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