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.Mrs.Jorgensen paid the amount due on December 9.What journal entry did Macy Company prepare on December 9?
A) Debit Cash for $1,000 and credit Sales Revenue for $1,000.
B) Debit Sales Revenue for $1,000 and credit Cash for $1,000.
C) Debit Sales Revenue for $1,000,credit Sales Discount for $20,and credit Cash for $980.
D) Debit Cash for $980,debit Sales Discounts for $20 and credit Accounts Receivable for $1,000.
Correct Answer:
Verified
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