Eastern Outfitters Sold $2,500 of Inventory to a Customer on Account

question 150

Multiple Choice

Eastern Outfitters sold $2,500 of inventory to a customer on account, terms 3/15 n/40. Freight terms were FOB shipping point and freight charges totalled $150. The entry to record the sale would include a:

• A)credit to Accounts Receivable for $2,350.
• B)debit to Sales Revenue for $2,500.
• C)credit to Sales Revenue for $2,500.
• D)debit Accounts Receivable for $2,650.

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Definitions:

Deviance

Behaviors or actions that violate societal norms or values, which can range from minor infractions to serious crimes.

Crime

Crime denotes acts that violate laws and are punishable by the state or other authority.

Powerful Groups

Entities in society with significant influence or control over resources, decision-making processes, and policy outcomes.

Norms

Generally accepted ways of doing things.