The entry to record a sale of $525 with terms of 2/10, n/30 will include a
A)debit to Sales Discounts for $10.50.
B)debit to Sales for $514.50.
C)credit to Accounts Receivable for $525.
D)credit to Sales for $525.

Question

Quizplus · Accepted Answer

The entry to record a sale should credit Sales for the full amount of $525, as the discount is not recorded until it is taken by the customer.

The Entry to Record a Sale of $525 with Terms