AG Inc. made a $15,000 sale on account with the following terms: 2/10, n/30. If the company uses the net method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale?
A) Debit Accounts Receivable for $14,700.
B) Debit Accounts Receivable for $14,700 and Sales Discounts for $300.
C) Debit Accounts Receivable for $15,000.
D) Debit Accounts Receivable for $15,000 and Sales Discounts for $300.
Correct Answer:
Verified
Q90: AG Inc. made a $15,000 sale on
Q91: If a company purchases merchandise on terms
Q92: Becky had net sales (all on account)
Q93: Wellington Corp. has outstanding accounts receivable totaling
Q94: On April 2, Kelvin sold $30,000 of
Q96: Wellington Corp. has outstanding accounts receivable totaling
Q97: David Company uses the gross method to
Q98: Kaniper Company has the following items at
Q99: When preparing a bank reconciliation, bank credits
Q100: AG Inc. made a $15,000 sale on
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