On June 3,Win-Tel Company Sold Merchandise Worth $800 on Credit,terms

Multiple Choice

On June 3,Win-Tel Company sold merchandise worth $800 on credit,terms 2/10,n/30.The merchandise sold had cost $550.The customer paid the amount on June 15. What is the required journal entry to record the payment received under the periodic inventory system?

A) Accounts Receivable 784
Sales Discounts 16
Cash 800
B) Accounts Receivable 800
Cash 800
C) Cash 784
Sales Discounts 16
Accounts Receivable 800
D) Cash 800
Accounts Receivable 800