Griffin Ltd Made a Sale of $800 to a Customer

question 14

Multiple Choice

Griffin Ltd made a sale of $800 to a customer on terms of 2/10, n/30 on 1 July. The account was paid on 8 July. Griffin Ltd would make which of the following postings to the ledger on 8 July?

• A) DR Discount expense $16
• B) DR Accounts receivable $800
• C) CR Discount revenue $16
• D) CR Discount expense $16

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Definitions:

Second If-Else Statement

A subsequent conditional statement in a program that executes one block of code if its condition is true, otherwise executes another block of code.

Indentation

The practice of using spaces or tabs at the beginning of lines of code to make the structure and hierarchy clearer.

Equality Operator

A relational operator that checks whether its two operands are equal, usually represented by ==.

Disadvantages

Drawbacks or limitations that might hinder functionality, performance, or applicability in various contexts including software, hardware, or algorithmic designs.