Lisa's Blankets and Bedding had a sale of $350 to a charge customer,terms 1/15,n/30.Lisa should record this transaction as follows:

Question

Quizplus · Accepted Answer

The correct way to record a sale on account (to a charge customer) is to debit Accounts Receivable for the full amount of the sale and credit Sales for the same amount. The terms 1/15, n/30 indicate a sales discount if paid within 15 days, but this does not affect the initial recording of the sale.

Lisa's Blankets and Bedding Had a Sale of $350 to a Charge