Multiple Choice
On February 3, Smart Company, Inc. sold merchandise in the amount of $5,800 to Truman Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Smart uses the gross method of accounting for sales and a perpetual inventory system. Truman pays the invoice on February 18, which is after the discount period. The journal entry that Smart makes on February 18 is:
A)
B)
C)
D)
E)
Correct Answer:

Verified
Correct Answer:
Verified
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