A Merchandiser Received Payment in Full Within the Discount Period

question 44

Multiple Choice

A merchandiser received payment in full within the discount period on a $5,000 sales invoice, terms 2/15 n/30. The journal entry would include a:

• A)debit to Cash for $5,000.
• B)credit to Accounts Receivable for $5,000.
• C)credit to Accounts Receivable for $4,900.
• D)credit to Sales Discounts for $100.

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Definitions:

Mediating Mechanisms

Processes or factors that explain the relationship between an independent variable and a dependent variable in psychological and social research.

Hackman's Authority Matrix

A framework developed by J. Richard Hackman to describe the distribution of decision-making authority within teams or organizations.

Quality Circles

Small groups of employees who meet regularly to discuss and solve problems related to work quality and efficiency.

Negative Impact

Refers to the adverse outcomes or dangerous effects resulting from an action, process, or event.