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

question 49

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 net method of recording a discount?

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

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Definitions:

Failing Vision

A decline in the ability to see clearly, which can include a variety of disorders affecting sight.

Attentional Blink

A phenomenon where the brain momentarily unable to process a second stimulus if it occurs too soon after the first.

Second Stimulus

An additional stimulus presented following the first, which can modify the response to the initial stimulus.

ADHD

Attention Deficit Hyperactivity Disorder, a neurological disorder characterized by problems with focus, hyperactivity, and impulsiveness.