Lee Enterprises received payment within the discount period from a customer who had purchased goods on credit. The sales invoice was for $2 000 and credit terms were 3/15 n/30. Ignore GST. In the cash receipts journal, $1 940 will appear in the:

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The cash debit column will show $1,940 because the customer paid within the discount period, taking a 3% discount on the $2,000 invoice, resulting in a payment of $1,940.

Lee Enterprises Received Payment Within the Discount Period from a Customer