Griffin Ltd made a sale of $800 to a customer on terms of 2.5/10,n/30 on 1 July.The account was paid on 8 July.Griffin Ltd would make which of the following postings to the ledger on 8 July?
A) DR Discount expense $20
B) DR Accounts receivable $800
C) CR Discount revenue $20
D) CR Discount expense $20.
Correct Answer:
Verified
Q2: The most common way of accommodating the
Q3: Which of the following is NOT a
Q4: Use the information given below to
Q7: A credit balance in a customer's account
Q7: Which of the following statements about a
Q8: Use the information given below to
Q10: Which of the following statements about subsidiary
Q10: Use the information given below to
Q11: Use the information given below to
Q18: The general ledger account representing the subsidiary
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents