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Rockhill Industries Received Payment After the Expiration of the Discount

Question 63

Multiple Choice

Rockhill Industries received payment after the expiration of the discount period from a customer who had purchased goods on credit.The sales invoice was for $3 000 and credit terms were 3/15 n/30.Ignore GST.In the cash receipts journal:


A) $3 000 will appear in the accounts receivable credit column.
B) $3 000 will appear in the sales revenue credit column.
C) $3 000 will appear in the accounts receivable debit column.
D) none of the above

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