Solved

Secret Trails Received Payment in Full Within the Credit Period

Question 98

Multiple Choice

Secret Trails received payment in full within the credit period for horse boarding for $900 plus 6% sales tax.Terms of the sale were 2/10,n/30.Which entry is required to record this?


A) Debit Cash,$900;credit Sales,$900
B) Debit Cash,$936;debit Sales Discount $18;credit Accounts Receivable,$954
C) Debit Cash,$954;credit Sales,$954
D) Debit Cash,$936;credit Sales,$936

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions