A $100,000 Sale Transaction Is Made with Terms of 5/10

question 41

Multiple Choice

A $100,000 sale transaction is made with terms of 5/10, net 30. What entry is made to the accounts receivable account when the sale is made under the net method of recording a discount?

• A)$95,000 credit
• B)$95,000 debit
• C)$100,000 credit
• D)$100,000 debit

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Definitions:

Erikson

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Intimacy

Intimacy signifies a close, familiar, and affectionate personal relationship with another person or group.

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Groups within a community who share distinct cultural, linguistic, or racial traits that differ from the predominant population.

Identity Exploration

A phase often occurring in adolescence and young adulthood where individuals actively experiment with and consider various personal, occupational, and philosophical possibilities.