Multiple Choice
Assuming Macoon has used the net method, and payment was received within the discount period, the entry to record the receipt of payment would include
A) An additional debit of $85.24 to accounts receivable
B) A credit of $8,438.76 to accounts receivable
C) A credit of $85.24 to sales
D) A debit of $85.24 to "forfeited sales discounts"
Correct Answer:
Verified
Correct Answer:
Verified
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