The collection of a $1,200 account after the 2 percent discount period will result in a

Name: The collection of a $1,200 account after the 2 percent discount period will result in a
Brand: Quizplus
Rating: 4.8 (42 reviews)

Question

Quizplus · Accepted Answer

The collection of the $1,200 account after the 2 percent discount period means that the customer did not take advantage of the discount and will pay the full $1,200 amount. Therefore, there is a debit to Cash for $1,200. None of the other options reflect this scenario accurately.

The Collection of a $1,200 Account After the 2 Percent