Debit Card Payments in a Sales Invoice with Regular Terms

question 30

Multiple Choice

Debit card payments in a sales invoice with regular terms of net 30 will -

• A)debit the bank account instead of accounts receivable for the full invoice amount
• B)credit the bank account instead of accounts receivable for the full invoice amount
• C)reduce the bank deposit by the amount of the card transaction fees
• D)withdraw the full invoice amount from the customer's bank account in 30 days when the net amount is due

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Definitions:

Substantive Due Process

A constitutional principle that protects individuals from the government's infringement on fundamental constitutional liberties.

Kentucky State Statute

Laws enacted by the Kentucky state legislature that govern legal obligations and rights within the state of Kentucky.

Life, Liberty, Property

Fundamental rights believed to be inherent and protected by law, including the right to live, the right to freedom, and the right to own property.

Equal Protection

A legal principle under the 14th Amendment of the U.S. Constitution stating that no state shall deny to any person within its jurisdiction the equal protection of the laws.