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On February 3,Smart Company Sold Merchandise in the Amount of $5,800

Question 130

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On February 3,Smart Company sold merchandise in the amount of $5,800 to Truman Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Smart uses the perpetual inventory system and the gross method.Truman pays the invoice on February 8,and takes the appropriate discount.The journal entry that Smart makes on February 8 is:


A) On February 3,Smart Company sold merchandise in the amount of $5,800 to Truman Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Smart uses the perpetual inventory system and the gross method.Truman pays the invoice on February 8,and takes the appropriate discount.The journal entry that Smart makes on February 8 is: A) B) C) D) E)
B) On February 3,Smart Company sold merchandise in the amount of $5,800 to Truman Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Smart uses the perpetual inventory system and the gross method.Truman pays the invoice on February 8,and takes the appropriate discount.The journal entry that Smart makes on February 8 is: A) B) C) D) E)
C) On February 3,Smart Company sold merchandise in the amount of $5,800 to Truman Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Smart uses the perpetual inventory system and the gross method.Truman pays the invoice on February 8,and takes the appropriate discount.The journal entry that Smart makes on February 8 is: A) B) C) D) E)
D) On February 3,Smart Company sold merchandise in the amount of $5,800 to Truman Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Smart uses the perpetual inventory system and the gross method.Truman pays the invoice on February 8,and takes the appropriate discount.The journal entry that Smart makes on February 8 is: A) B) C) D) E)
E) On February 3,Smart Company sold merchandise in the amount of $5,800 to Truman Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Smart uses the perpetual inventory system and the gross method.Truman pays the invoice on February 8,and takes the appropriate discount.The journal entry that Smart makes on February 8 is: A) B) C) D) E)

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