Solved

Rockhill Industries Received Payment After the Expiration of the Discount

Question 44

Multiple Choice

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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents