If the Receivable for a Student Is $8,000 and the Student

question 4

Multiple Choice

If the receivable for a student is $8,000 and the student pays only $500 as the result of receiving an athletic scholarship from the school,what would be the appropriate debits

• A) Debit Cash.
• B) Debit Cash and Debit Expense.
• C) Debit Expense.
• D) Debit Cash and Debit Tuition Discount on Accounts Receivable.