The Entry to Record the Receipt of Payment Within the Discount

question 21

Multiple Choice

The entry to record the receipt of payment within the discount period on a sale of $2,000 with terms of 2/10, n/30 will include a credit to

• A)Sales Discounts for $40.
• B)Cash for $1,960.
• C)Accounts Receivable for $2,000.
• D)Sales Revenue for $2,000.

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Definitions:

Avoidant Attachment Style

A pattern of attachment in which an individual maintains a distance from close others, due to a desire to appear self-sufficient and an attempt to minimize dependency on others.

Distrust

Lack of trust or confidence in someone or something.

Gay Parents

Same-sex couples who are raising children together, whether through biological means, adoption, or other methods of family building.

Children

Young human beings who are in the early stages of their physical and psychological development.