Solved

On July 9, Elijah Company Sells Goods on Credit to Miley

Question 44

Multiple Choice

On July 9, Elijah Company sells goods on credit to Miley Company for $7,000, terms 1/10, n/60. Elijah receives payment on July 18. The entry by Elijah on July 18 is:

A) $\begin{array}{ll}\text { Cash }&7,000\\\text { Acounts Receivable}&&7,000\end{array}$

B) $On July 9, Elijah Company sells goods on credit to Miley Company for $7,000, terms 1/10, n/60. Elijah receives payment on July 18. The entry by Elijah on July 18 is: A) \begin{array}{ll} \text { Cash }&7,000\\\text { Acounts Receivable}&&7,000 \end{array} B) C) D)$
C) $On July 9, Elijah Company sells goods on credit to Miley Company for $7,000, terms 1/10, n/60. Elijah receives payment on July 18. The entry by Elijah on July 18 is: A) \begin{array}{ll} \text { Cash }&7,000\\\text { Acounts Receivable}&&7,000 \end{array} B) C) D)$
D) $On July 9, Elijah Company sells goods on credit to Miley Company for $7,000, terms 1/10, n/60. Elijah receives payment on July 18. The entry by Elijah on July 18 is: A) \begin{array}{ll} \text { Cash }&7,000\\\text { Acounts Receivable}&&7,000 \end{array} B) C) D)$