Assume the Periodic Inventory System Is Used $\begin{array}{lll}\text { Cash } & 500 \\\quad \text { Accounts Receivable } & & 500 \\\end{array}$

question 80

Multiple Choice

Assume the periodic inventory system is used.Krinkle Company sold inventory on account for $500 on May 8,20X3,with terms of 2/10,n/30.On May 16,20X3 the appropriate payment was received from the customer.Which of the following is the journal entry to record the May 16 transaction on Krinkle's books?

• A) \(\begin{array}{lll}
• \text { Cash } & 500 \\
• \quad \text { Accounts Receivable } & & 500 \\
• \end{array}\)
• B) \(\begin{array}{lccc}
• \text { Cash } & 490 & \\
• \text { Cash Discounts on Sales } & 10 & \\
• \quad \text { Accounts Receivable } & &500 \\
• \end{array}\)
• C) \(\begin{array}{lccc}
• \text { Cash } & 490 & \\
• \text { Sales } & 10 \\
• \quad \text { Accounts Receivable } & &500 & \\
• \end{array}\)
• D)\(\begin{array}{lccc}
• \text { Cash } &500 & \\
• \quad \text { Cash Discounts on Sales }&&10 \\
• \text { Accounts Receivable } & & 490 \\
• \end{array}\)
• E)\(\begin{array}{lccc}
• \text { Cash } & 500& \\
• \text { Sales } & & 10 \\
• \text { Accounts Receivable } & & 490
• \end{array}\)

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Definitions:

Skin Turgor

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Temperature

A physical quantity expressing the degree of heat or cold of an object or environment, measured in units like degrees Celsius, Fahrenheit, or Kelvin.

Clinical Dehydration

A medical condition resulting from the excessive loss of body water, with accompanying disruption of metabolic processes.

Fluid Volume Status

Refers to the state of body fluids, including blood and others, crucial for assessing hydration levels and guiding medical treatment.