Amy Company sold $8,000 of merchandise to Tory Turnbull with terms 2/10, n/30. If Tory paid for all of the merchandise within the discount period, the journal entry that Amy will make to record the collection of cash would include a
A) Debit to Sales Discounts of $160
B) Credit to Sales Discounts of $160
C) Credit to Cash of $7,840
D) Debit to Cash of $8,000
Correct Answer:
Verified
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