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Charles Company Sells Foods Wholesale

Question 35

Multiple Choice

Charles Company sells foods wholesale. On May 15, Charles sold 400 cases of beans to Robin Company for $8 per case with terms of 2/10, n/30. On May 25, Swoops Company paid Edwards the full amount due. Given these data, the entry to record the collection of cash on May 25 would include a


A) Credit to Sales Discounts of $64
B) Debit to Cash of $3,200
C) Credit to Accounts Receivable of $3,200
D) Credit to Cash of $3,136

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