Monica's Closet Received Payment in Full Within the Discount Period

question 101

Multiple Choice

Monica's Closet received payment in full within the discount period for goods sold on a $600 sales invoice,terms 2/10,n/30.Which entry records this payment?

• A)Debit Accounts Receivable $600;credit Sales $600
• B)Debit Cash $600;credit Accounts Receivable $600
• C)Debit Cash $588,debit Sales Discount $12;credit Sales $600
• D)Debit Cash $588,debit Sales Discount $12;credit Accounts Receivable $600

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Definitions:

Motivated Cognition

The influence of desires and preferences on the processing of information and decision making.

Experienced Reader

An individual who has developed advanced reading skills and is capable of comprehending and analyzing complex texts with proficiency.

Flashed Screen

A brief visual presentation used in psychological experiments to assess perception or cognitive processing.

Preattentive Process

Cognitive processes that occur without conscious awareness, before attention is focused on a specific object or activity.