A $50,000 Sale Transaction Is Made with Terms of 2/10

question 13

Multiple Choice

A $50,000 sale transaction is made with terms of 2/10, net 30. Assuming that the customer takes the discount, what amount is booked to the "cash discount" account under the gross method of accounting for cash discounts?

• A)$0
• B)$1,000 debit
• C)$1,000 credit
• D)$49,000 debit

Grasp Descartes's methodological skepticism and his quest for indubitable knowledge.

Recognize Locke's concept of the mind as a blank slate (tabula rasa) at birth.

Differentiate between rationalism and empiricism in the context of knowledge acquisition.

Analyze the pragmatic theory of truth and its application to the choice between scientific theories.

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Definitions:

Total Egocentrism

A cognitive state where an individual is unable to differentiate between their own perspective and that of others, typically seen in early childhood development.

Types of Memory

The various forms in which the human brain can store information, typically classified as sensory, short-term (or working), and long-term memory.

Habituation

A psychological learning process wherein there is a decrease in response to a stimulus after being repeatedly exposed to it.

Dishabituation

The renewal of response or attention to a stimulus after habituation has occurred, typically due to the introduction of a new or changed stimulus.