Secret Trails Received Payment in Full Within the Credit Period

question 101

Multiple Choice

Secret Trails received payment in full within the credit period for horse boarding for $900 plus 6% sales tax.Terms of the sale were 2/10,n/30.Which entry is required to record this payment?

• A)Debit Cash,$900; credit Accounts Receivable Sales,$900
• B)Debit Cash,$936; debit Sales Discount $18; credit Accounts Receivable,$954
• C)Debit Cash,$954; credit Sales,$954
• D)Debit Cash,$936; credit Sales,$936

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