On August 1, Party Hearty Company Sold Merchandise on Credit

question 1

Short Answer

On August 1, Party Hearty Company sold merchandise on credit with a list price of $6,300. Terms were 2/10, n/30. Which of the following entries correctly applies the indicated method to receive the appropriate customer payment on August 15?

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Definitions:

Lemonade

A sweetened beverage made from lemon juice, water, and sugar, often served cold and considered refreshing, particularly in warm weather.

Pizzas

A popular dish of Italian origin, consisting of a flatbread typically topped with tomato sauce, cheese, and various other ingredients, then baked.

Production Possibilities Frontier

A graphical depiction that shows the maximum quantity of one good that can be produced for every possible quantity of another good, given the available resources and technology.

Burrito

A type of Mexican street food consisting of a wheat flour tortilla wrapped or folded into a cylindrical shape to enclose fillings.