The Collection of a $6,000 Account Within the 2 Percent

question 25

Multiple Choice

The collection of a $6,000 account within the 2 percent discount period will result in a

• A) debit to Sales Discounts for $120.
• B) debit to Accounts Receivable for $5,880.
• C) credit to Cash for $5,880.
• D) credit to Accounts Receivable for $5,880.

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Definitions:

Shading

The act of adding gradations of darkness or color to an artwork to indicate shadow or depth.

Existential Import

The assumption within a proposition that something exists.

Square of Opposition

A diagram representing the logical relationships between certain types of propositions in classical logic.

Universal

Pertaining to or being applicable to all cases, individuals, or groups without exception.