Adding the Discount Terms 2/10,n/30 to a Sales Invoice for $1

question 32

Multiple Choice

Adding the discount terms 2/10,n/30 to a sales invoice for $1 000 will -

• A)change the accounts receivable amount to $980
• B)change the cash in bank amount to $980
• C)credit $20 to accounts receivable and debit $980 when the account is paid
• D)not change the amounts in the journal entry for the sales invoice

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Definitions:

Creative Mash Ups

involve combining or mixing different ideas, genres, or elements to create innovative or interesting outcomes.

Brand Communities

Groups of consumers who are bonded by their loyalty to a brand and engage in activities and social interactions around it.

Existing Practices

The current methods, processes, or operations adopted by businesses, institutions, or individuals as standard or conventional procedures.