Use This Information to Answer the Following Question

Multiple Choice

Use this information to answer the following question. Chupka Company experienced the following events during the period:
1. A tabulation of invaices at the end of the day showed \$80] in MasterCard invoices, which were deposited in a bank account at fall value less a 5 percent discaunt.
2. Made a sale an American Eagies5 card far 400 and mailed invoice to American Eagress for payment. The discount charged by American Bagges5 is 4 percent. The entry to record transaction 1 would include an increase in

A) Credit Card Expense for $40.
B) Sales for $760.
C) Cash for $800.
D) Accounts Receivable for $760.