Merchandise with a sales price of $800 is sold on account with term 2/10, n/30. The journal entry to record the sale would include a
A) debit to Cash for $800
B) Debit to Sales Discounts for $16
C) Credit to Sales for $800
D) Debit to Accounts Receivable for $784
Correct Answer:
Verified
Q63: When comparing a retail business to a
Q91: Gross profit is equal to:
A) sales plus
Q97: Using the following information, what is the
Q98: The retained earnings statement shows
A) net income,
Q99: Using the following information, what is the
Q104: Sales to customers who use bank credit
Q105: The entry to record the return of
Q105: Dorman Co. sold merchandise to Smith Co.
Q106: When purchases of merchandise are made for
Q108: When a buyer returns merchandise purchased for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents