Spiders Geophysics issues an invoice to Huslia Goldmines for $150,000 on August 5, 2021. The invoice states the payment terms are 5/10, net 30. Huslia pays the invoice on August 14, 2021. How should Spiders record the invoice and its subsequent collection if it uses (a)the gross method or (b)the net method?

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The Answer of Spiders Geophysics issues an invoice to Huslia Goldmines for $150,000 on August 5, 2021. The invoice states the payment terms are 5/10, net 30. Huslia pays the invoice on August 14, 2021. How should Spiders record the invoice and its subsequent collection if it uses (a)the gross method or (b)the net method?

Spiders Geophysics Issues an Invoice to Huslia Goldmines for $150,000