The Entry to Record the Receipt of Payment Within the Discount

question 91

Multiple Choice

The entry to record the receipt of payment within the discount period on a sale of $2500 with terms of 2/10 n/30 will include a credit to

• A) Sales Discounts for $50.
• B) Cash for $2450.
• C) Accounts Receivable for $2500.
• D) Sales Revenue for $2500.

---

Definitions:

Marginal Costs

represent the cost of producing one more unit of a good or service, calculated by the change in total cost that comes from producing one additional unit.

Economic Analysis

The study of how people use resources to produce goods and services for consumption and how those goods and services are distributed and consumed.

Government Policy

The plan of action or regulatory measures formulated and implemented by a governmental entity aimed at achieving specific goals or addressing certain issues within the society.

Median-Voter Model

A theory stating that the outcome of a majority-rule election is likely to reflect the preferences of the median voter.