A tabulation of invoices at the end of the day showed $1,600 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 $1,520.
B)Cash for $1,600.
C)Sales for $1,520.
D)Credit Card Expense for $80.

Question

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The Answer of A tabulation of invoices at the end of the day showed $1,600 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 $1,520.
B)Cash for $1,600.
C)Sales for $1,520.
D)Credit Card Expense for $80.

A Tabulation of Invoices at the End of the Day