A tabulation of invoices at the end of the day showed $800 in MasterCard invoices, which were deposited into a bank account at full value, less a 5 percent discount. The entry to record the above events would include an increase in
A) Accounts Receivable for $760.
B) Cash for $800.
C) Sales for $760.
D) Credit Card Expense for $40.

Question

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The Answer of A tabulation of invoices at the end of the day showed $800 in MasterCard invoices, which were deposited into a bank account at full value, less a 5 percent discount. The entry to record the above events would include an increase in
A) Accounts Receivable for $760.
B) Cash for $800.
C) Sales for $760.
D) Credit Card Expense for $40.

A Tabulation of Invoices at the End of the Day