The Collection of an $1,500 Account Within the 2 Percent

question 151

Multiple Choice

The collection of an $1,500 account within the 2 percent discount period will result in a

• A)debit to Sales Discounts for $30.
• B)debit to Accounts Receivable for $1,470.
• C)credit to Cash for $1,470.
• D)credit to Accounts Receivable for $1,470.

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A specific, recognized objective that an individual or group aims to achieve within a defined timeframe.

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