On June 3,Win-Tel Company Sold Merchandize Worth $800 on Credit,terms $\begin{array}{lc}\text { Accounts Receivable } & 784 \\\text { Sales Discounts } & 16 \\\text { Cash } &&800\end{array}$

Multiple Choice

On June 3,Win-Tel Company sold merchandize worth $800 on credit,terms 2/10,n/30.The merchandize 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)
$\begin{array}{lc}\text { Accounts Receivable } & 784 \\\text { Sales Discounts } & 16 \\\text { Cash } &&800\end{array}$
B)
$\begin{array}{ll}\begin{array}{c}\text { Accounts Receivable } & 800\\\text { Cash } && 800\end{array} \\\end{array}$

C)
$\begin{array}{lr}\text { Cash } & 784 \\\text { Sales Discounts } & 16 \\\text { Accounts Receivable } &&800\end{array}$
D)
$\begin{array}{ll}\text { Cash } & 800 \\\text { Accounts Receivable } && 800\end{array}$