A $100,000 sale transaction is made with terms of 5/10, net 30. What amount is debited to the accounts receivable account when the sale is made under the gross method of recording a discount?
A) $95,000 credit
B) $95,000 debit
C) $100,000 credit
D) $100,000 debit
Correct Answer:
Verified
Q37: Which of the following would be an
Q38: What is one way to segregate duties
Q39: Explain why a bank reconciliation is necessary.
Q40: Explain why it is important to segregate
Q41: A $50,000 sale transaction is made with
Q43: A $50,000 sale transaction is made with
Q44: A $50,000 sale transaction is made with
Q45: Which statement about receivables is correct?
A)Receivables are
Q46: Which of the following is one of
Q47: Which statement is not correct?
A)Factoring with recourse
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