JCPenney Issues Its Own Credit Cards to Its Customers Who

question 15

Multiple Choice

JCPenney issues its own credit cards to its customers who have established credit with them.It's customers used these cards to charge $300 worth of sales.JCPenney would record these sales by:

• A) debiting Cash $300 and crediting Sales $300.
• B) debiting Sales $300 and crediting Accounts Receivable $300.
• C) debiting Charge Card Sales $300 and crediting Sales Returns and Allowances $300.
• D) debiting Accounts Receivable $300 and crediting Sales $300.

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Definitions:

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