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A Company Records the Following Journal Entry: Debit Cash $1,470,debit

Question 18

Multiple Choice

A company records the following journal entry: debit Cash $1,470,debit Sales Discounts $30,and credit Accounts Receivable $1,500.This means that a customer has taken what percentage cash discount for early payment?


A) 1%
B) 2%
C) 5%
D) 10%
E) 15%

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