On April 1, Snell Company sold on account merchandise with a list price of $50,000. Payment terms were 3/10/n30. The receivable was collected from the customer on April 8. Considering only the collection of cash from the receivable, what effect will the transaction have on the company's statements?

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The Answer of On April 1, Snell Company sold on account merchandise with a list price of $50,000. Payment terms were 3/10/n30. The receivable was collected from the customer on April 8. Considering only the collection of cash from the receivable, what effect will the transaction have on the company's statements?

On April 1, Snell Company Sold on Account Merchandise with a List