Multiple Choice
If a buyer takes advantage of a sales discount, the journal entry recorded by the seller will include a(n) :
A) debit to Cash and a credit to Sales Discount.
B) debit to Cash and a debit to Sales Discount.
C) debit to Cash and debit to Accounts Receivable.
D) debit to Cash and debit to Sales Returns and Allowances.
Correct Answer:

Verified
Correct Answer:
Verified
Q15: Which of the following is NOT true
Q16: At the end of the current year,
Q17: Company B receives a note from a
Q19: On a statement of cash flows, collections
Q21: Most companies will use:<br>A) the percent-of-sales method
Q22: Monetary claims against others acquired mainly by
Q23: If the credit terms are 2/10, n/30,
Q24: Businesses that sell on credit receive most
Q25: One method of establishing proper internal control
Q124: By selling on credit,companies run the risk