The Collection of a $2,000 Account Within the 2 Percent

question 67

Multiple Choice

The collection of a $2,000 account within the 2 percent discount period will result in a

• A) debit to Sales Discounts for $40.
• B) debit to Accounts Receivable for $1,960.
• C) credit to Cash for $1,960.
• D) credit to Accounts Receivable for $1,960.

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Definitions:

Unique Selling Proposition

A distinct advantage or benefit that sets a product or service apart from its competitors, used as a key marketing message.

Promotional Strategy

Refers to the comprehensive plan designed to communicate a brand, products, or services to the intended audience to achieve marketing objectives.

HVAC Dealers

Businesses that specialize in selling, and often installing and servicing, heating, ventilation, and air conditioning systems.

All-Expenses-Paid Trip

A vacation or trip where all the costs, including travel, accommodations, and often meals and activities, are paid for in advance by the provider.