The entry to record the receipt of payment within the discount period on a sale of $¥7,500$ with terms of $2 / 10 , n / 30$ will include a credit to

Name: The entry to record the receipt of payment within the discount period on a sale of $¥7,500$ with terms of $2 / 10 , n / 30$ will include a credit to
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

The entry will include a credit to Accounts Receivable for the full amount of $¥7,500$ because the customer is paying within the discount period, and the discount is recorded separately.

The Entry to Record the Receipt of Payment Within the Discount