Multiple Choice
A merchandiser received payment in full within the discount period on a $5,000 sales invoice, terms 2/15 n/30. The journal entry would include a:
A) debit to Cash for $5,000.
B) credit to Accounts Receivable for $5,000.
C) credit to Accounts Receivable for $4,900.
D) credit to Sales Discounts for $100.
Correct Answer:
Verified
Correct Answer:
Verified
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