Amy Company Sold $8,000 of Merchandise to Tory Turnbull with Terms

question 81

Multiple Choice

Amy Company sold $8,000 of merchandise to Tory Turnbull with terms 2/10, n/30. If Tory paid for all of the merchandise within the discount period, the journal entry that Amy will make to record the collection of cash would include a

• A) Debit to Sales Discounts of $160
• B) Credit to Sales Discounts of $160
• C) Credit to Cash of $7,840
• D) Debit to Cash of $8,000

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Definitions:

Parkinson's Disease

A degenerative disorder of the central nervous system that affects movement and often includes tremors.

Electrical Impulse

An electrical charge that moves through neurons, enabling signals to be transmitted throughout the body, including to and from the brain.

Chain Reaction

A series of chemical reactions where the product or by-product of one reaction initiates another.

Contraction

The process of muscle fibers shortening in response to a stimulus, leading to movement or increased tension.