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:

Pride

A feeling of satisfaction and self-respect that comes from one's achievements, qualities, or possessions, which can also reflect a community's esteem.

Cortisol

A steroid hormone released by the adrenal glands in response to stress or low blood-glucose concentration.

Well-Being

The state of being comfortable, healthy, or happy, encompassing physical, mental, and emotional health and overall quality of life.

Secure Attachment

A stable and healthy emotional bond between an infant and their caregiver, characterized by trust and a sense of safety.