A Company Uses a Cash Receipts Journal (Periodic System)as Shown

Multiple Choice

A company uses a cash receipts journal (periodic system) as shown below.
$$\begin{array} { | c | c | c | c | c | c | c | c | } \hline \text { Date } & \begin{array} { c } \text { Account } \\\text { Credited }\end{array} & \text { Explanation } & \text { Cash Dr. } & \begin{array} { c } \text { Sales Disc. } \\\text { Dr. }\end{array} & \begin{array} { c } \text { Accounts } \\\text { Receivable } \\\text { Cr. }\end{array} & \text { Sales Cr. } & \begin{array} { c } \text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} \\\hline & & & & & & & \\\hline & & & & & & & \\\hline\end{array}$$
How would the following transactions be recorded in this cash receipts journal?
12/10 Sold merchandise to Cat Company for $7,500 cash (cost is $4,250)
12/11 Sold merchandise on credit to Dog,Inc,Invoice No.852,for $4,000 (cost is $2,200) Terms are 2/10,N/30.

A)
$$\begin{array} { | c | l | l | l | l | l | l | l | } \hline { \text { Date } } & \begin{array} { c } \text { Account } \\\text { Credited }\end{array} & \text { Explanation } & \text { Cash Dr. } & \begin{array} { c } \text { Sales Disc. } \\\text { Dr. }\end{array} & \begin{array} { c } \text { Accounts } \\\text { Receivable } \\\text { Cr. }\end{array} & \text { Sales Cr. } & \begin{array} { c } \text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} \\\hline 12 / 10 & \text { Sales } & \text { Cash Sales } & 7,500 & & & & \\\hline 12 / 11 & \text { Sales } & \text { Credit Sales } & & & 4,000 & & \\\hline\end{array}$$
B)
$$\begin{array} { | l | l | l | l | l | l | l | l | } \hline { \text { Date } } & \begin{array} { c } \text { Account } \\\text { Credited }\end{array} & \text { Explanation } & \text { Cash Dr. } & \begin{array} { c } \text { Sales Disc. } \\\text { Dr. }\end{array} & \begin{array} { c } \text { Accounts } \\\text { Receivable } \\\text { Cr. }\end{array} & \text { Sales Cr. } & \begin{array} { c } \text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} \\\hline 12 / 10 & \text { Sales } & \text { Cash Sales } & 7,500 & & & 7,500 & \\\hline 12 / 11 & \text { Sales } & \text { Credit Sales } & & 80 & 3,920 & & \\\hline\end{array}$$
C)
$$\begin{array} { | l | l | l | l | l | l | l | l | } \hline { \text { Date } } & \begin{array} { c } \text { Account } \\\text { Credited }\end{array} & \text { Explanation } & \text { Cash Dr. } & \begin{array} { c } \text { Sales Disc. } \\\text { Dr. }\end{array} & \begin{array} { c } \text { Accounts } \\\text { Receivable } \\\text { Cr. }\end{array} & \text { Sales Cr. } & \begin{array} { c } \text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} \\\hline 12 / 10 & \text { Sales } & \text { Cash Sales } & 7,500 & & & & 7,500 \\\hline 12 / 11 & \text { Sales } & \text { Credit Sales } & & 80 & 3 , 9 2 0 & 4 , 0 0 0 & \\\hline\end{array}$$
D)
$$\begin{array} { | c | l | l | l | l | l | l | l | } \hline \text { Date } & \begin{array} { c } \text { Account } \\\text { Credited }\end{array} & \text { Explanation } & \text { Cash Dr. } & \begin{array} { c } \text { Sales Disc. } \\\text { Dr. }\end{array} & \begin{array} { c } \text { Accounts } \\\text { Receivable } \\\text { Cr. }\end{array} & \text { Sales Cr. } & \begin{array} { c } \text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} \\\hline 12 / 10 & \text { Sales } & \text { Cash Sales } & 7,500 & & & & 7,500 \\\hline & & & & & & & \\\hline\end{array}$$
E)
$$\begin{array} { | c | l | l | l | l | l | l | l | } \hline \text { Date } & \begin{array} { c } \text { Account } \\\text { Credited }\end{array} & \text { Explanation } & \text { Cash Dr. } & \begin{array} { c } \text { Sales Disc. } \\\text { Dr. }\end{array} & \begin{array} { c } \text { Accounts } \\\text { Receivable } \\\text { Cr. }\end{array} & \text { Sales Cr. } & \begin{array} { c } \text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} \\\hline 12 / 10 & \text { Sales } & \text { Cash Sales } & 7,500 & & & 7,500 & \\\hline & & & & & & & \\\hline\end{array}$$