The journal entry to record a customer's payment within the discount period would include all but one of the following.
A)Debit to cash
B)Debit to sales discount
C)Credit to sales
D)Credit to accounts receivable

Question

Quizplus · Accepted Answer

Sales are not directly credited when recording a customer's payment within the discount period. Instead, the entry typically involves debiting cash (for the amount received), debiting sales discounts (for the discount taken by the customer), and crediting accounts receivable (to reduce the amount owed by the customer).

The Journal Entry to Record a Customer's Payment Within the Discount