Asked by
gurvir sarao
on Nov 15, 2024Verified
Dora's Blankets and Bedding had a sale of $600 to a charge customer, terms 2/15, n/30. Dora should record this transaction as follows: (Round intermediary calculations to the nearest cent and final answers to the whole dollar.)
A) debit Accounts Receivable $600; credit Sales $600.
B) debit Cash $600; credit Sales $600.
C) debit Accounts Receivable $588; debit Sales Discounts $12; credit Sales $600.
D) debit Sales $600; credit Accounts Receivable $600.
Charge Customer
The process of billing a customer for goods or services provided.
Sales Discounts
A reduction in the price of goods or services offered by a seller to a buyer, usually to encourage prompt payment.
Accounts Receivable
The amount of money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
- Comprehend the recording of sales transactions, including the effect of payment terms on accounts receivable and the sales account.
Verified Answer
MO
Learning Objectives
- Comprehend the recording of sales transactions, including the effect of payment terms on accounts receivable and the sales account.
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