The Entry to Record the Receipt of Payment Within the Discount

question 206

Multiple Choice

The entry to record the receipt of payment within the discount period on a sale of $900 with terms of 2/10, n/30 will include a

• A)credit to Sales Discounts for $18.
• B)debit to Sales Revenue for $882.
• C)credit to Accounts Receivable for $900.
• D)credit to Sales Revenue for $900.

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Definitions:

Exotic Species

Organisms introduced to a new habitat where they are not naturally found, often causing harm to the local ecosystem and native species.

Indicator Species

Species that serve as a sign or indicator of the health or condition of an ecosystem, often sensitive to environmental changes.

Endemic Species

Species that are native to a specific geographical area and found nowhere else in the world.

Pioneer Species

The first species to colonize barren environments or freshly disturbed lands, often initiating ecological succession.