Rockhill Industries received payment after the expiration of the discount period from a customer who had purchased goods on credit.The sales invoice was for $3 000 and credit terms were 3/15 n/30.Ignore GST.In the cash receipts journal:
A) $3 000 will appear in the accounts receivable credit column.
B) $3 000 will appear in the sales revenue credit column.
C) $3 000 will appear in the accounts receivable debit column.
D) none of the above
Correct Answer:
Verified
Q39: The sales journal is used to record
Q40: Accounts that provide supporting details for a
Q41: Litten Enterprises received payment in full from
Q42: The end-of-month balance in Dryer Industries' cash
Q43: Which special journal could contain a column
Q46: Which statement concerning the accounts payable subsidiary
Q47: Transactions in the sales journal are posted
Q48: Sales discount is recorded in the general
Q49: Which column in the cash payments journal
Q58: The sum of the account balances in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents