The Journal Entry to Record a Sales Discount Taken by a Customer

question 28

Multiple Choice

The journal entry to record a sales discount taken by a customer would include:

• A)A debit to Accounts Receivable and Sales Discount
• B)A debit to Cash and Sales Discount
• C)A debit to Sales and a credit to Accounts Receivable
• D)A debit to Cash and a credit to Sales Discount

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Definitions:

Rural Areas

Regions characterized by low population density and vast open spaces, often with a predominant focus on agricultural activities or natural resources.

Social Insurance

A government-sponsored program that provides financial assistance to individuals in events of unemployment, disability, or retirement.

Public Assistance

Government-provided financial aid or services to individuals and families in need to ensure a basic standard of living.

Earned Right

A privilege or benefit that has been obtained or secured through work, achievement, or service.