Multiple Choice
Assuming Macoon uses the gross method, the entry to record the sale is
A) A debit and credit of $7,671.60 to accounts receivable and sales respectively.
B) A debit and credit of $8,438.76 to accounts receivable and sales respectively.
C) A debit and credit of $8,524 to accounts receivable and sales respectively.
D) Debits of $8,438.76 and $85.24 to accounts receivable and "forfeited sales discounts" and a credit to sales to balance
Correct Answer:
Verified
Correct Answer:
Verified
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