Monica’s Closet received payment in full for goods sold within the discount period on a $500 sales invoice, terms 2/10, n/30. Which entry records this payment?
A. Debit Accounts Receivable; credit Sales $500
B. Debit Cash; credit Accounts Receivable $500
C. Debit Cash $490, debit Sales Discount $10; credit Sales $500
D. Debit Cash $490, debit Sales Discount $10; credit Accounts Receivable $500

Question

Monica’s Closet received payment in full for goods sold within the discount period on a $500 sales invoice, terms 2/10, n/30. Which entry records this payment?
  A. Debit Accounts Receivable; credit Sales $500 	
  B. Debit Cash; credit Accounts Receivable $500 	
  C. Debit Cash $490, debit Sales Discount $10; credit Sales $500 	
  D. Debit Cash $490, debit Sales Discount $10; credit Accounts Receivable $500

anonymous · Answer

its not a