The collection of a $1,000 account after the 2 percent discount period will result in a
A) debit to Cash for $980.
B) credit to Accounts Receivable for $1,000.
C) credit to Cash for $1,000.
D) debit to Sales Discounts for $20.

Question

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The Answer of The collection of a $1,000 account after the 2 percent discount period will result in a
A) debit to Cash for $980.
B) credit to Accounts Receivable for $1,000.
C) credit to Cash for $1,000.
D) debit to Sales Discounts for $20.

The Collection of a $1,000 Account After the 2 Percent