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The Collection of a ¥7,000 Account After the 2 Percent

Question 182

Multiple Choice

The collection of a ¥7,000 account after the 2 percent discount period will result in a

A) debit to Cash for ¥6,860.
B) credit to Accounts Receivable for ¥7,000.
C) credit to Cash for ¥7,000.
D) debit to Sales Discounts for ¥140.

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