A Company Sold Inventory for $24,000 on Credit with Terms

question 70

Multiple Choice

A company sold inventory for $24,000 on credit with terms of 3/15,n/30.The company uses a perpetual inventory system.After two days,it received defective inventory worth $2000.The journal entry to record the cash receipt for sale if the payment is received within 10 days of the invoice date would include:

• A)a debit to Cash for $21,340,a debit to Sales discount for $660 and a credit to Accounts receivable for $22,000.
• B)A debit to Sales for $24,000,a credit to Accounts receivable for $24,000 and a credit to Sales discount for $2000
• C)a debit to Cash for $22,000,a debit to Inventory for $2000 and a credit to Accounts receivable.
• D)a debit to Cash for $21,340,a credit to Inventory for $660 and a credit to Sales revenue for $22,000.

Understand the mechanisms of gas exchange in plants through stomata and lenticels.

Explain the physiological and ecological importance of plant adaptations, such as spines and leaf scars.

Identify factors influencing the physical characteristics of wood, including environmental stress.

Comprehend the basics of plant genetics and diversity within species.

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Definitions:

Elaborative Rehearsal

A technique for memory improvement involving the linking of new information to existing memories and knowledge through semantic processing.

Tactile Imagery

Descriptive language that pertains to the sense of touch, creating a sensory experience where the reader or listener can “feel” textures, surfaces, or physical sensations described in the text.

Rote Rehearsal

A memorization technique involving the repetition of information without understanding its meaning or context.

Short-Term Memory

A temporary storage system in the brain for holding a small amount of information in an easily accessible state for a short period.