On December 1,Macy Company sold merchandise with a selling price of $1,000 on account to Mrs.Jorgensen,with terms 2/10,n/30.Ignoring Cost of Goods Sold,what journal entry did Macy Company prepare on December 1?
A) Debit Cash for $1,000 and credit Accounts Receivable for $1,000
B) Debit Accounts Receivable for $1,000 and credit Cash for $1,000.
C) Debit Accounts Receivable for $1,000 and credit Sales Revenue for $1,000.
D) Debit Sales Revenue for $1,000 and credit Accounts Receivable for $1,000.
Correct Answer:
Verified
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