When a Credit Sale Is Made with Terms of 2/10,n/30

question 85

Multiple Choice

When a credit sale is made with terms of 2/10,n/30 on May 10 and the customer's check is received on May 19,which of the following is true about the May 19 journal entry?

• A)The debit to cash will equal the credit to accounts receivable because the discount was recorded on May 10.
• B)There will be a debit to sales discounts on May 10.
• C)The debit to cash will be less than the credit to accounts receivable on May 19.
• D)There will be a credit to sales discounts on May 19.

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