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:

Systems/Contingency Manager

A professional responsible for adapting management strategies to address and anticipate various situations or changes within an organization, ensuring flexibility and effectiveness.

Management Model

A framework or blueprint that outlines how an organization's resources are mobilized and managed to achieve its goals.

Mutual Adjustment Method

A process of achieving coordination through informal communication and spontaneous interaction among members.

Horizontal Communication

The exchange of information between individuals at the same level in an organizational hierarchy.