The collection of a $700 account beyond the 2 percent discount period will result in a
A) debit to Cash for $686.
B) credit to Accounts Receivable for $700.
C) credit to Cash for $700.
D) debit to Sales Discounts for $14.

Question

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The Answer of The collection of a $700 account beyond the 2 percent discount period will result in a
A) debit to Cash for $686.
B) credit to Accounts Receivable for $700.
C) credit to Cash for $700.
D) debit to Sales Discounts for $14.

The Collection of a $700 Account Beyond the 2 Percent