The Entry to Record the Receipt of Payment Within the Discount

question 94

Multiple Choice

The entry to record the receipt of payment within the discount period on a sale of ¥12,500 with terms of 2/10, n/30 will include a credit to

• A) Sales Discounts for ¥250.
• B) Cash for ¥1,225.
• C) Accounts Receivable for ¥12,500.
• D) Sales Revenue for ¥12,500.

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Definitions:

Criterion Variable

The outcome variable that is predicted based on one or more predictor variables in regression analysis.

Linear Regression Equation

A formula to determine the line of best fit in a dataset, depicting how the dependent variable is influenced by one or more independent variables.

Slope

A measure of the steepness or incline of a line, typically represented as the ratio of the rise over the run between two points on a graph.

Y-intercept

The Y-intercept of a linear equation is the point where the line crosses the Y-axis on a graph, representing the value of the dependent variable when the independent variable is zero.