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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Definitions:

Scouts

Individuals or entities tasked with gathering information, typically to aid decision-making processes or strategic planning.

Constituency

A group of voters in a specified area who elect a representative to a legislative body.

Acquire Resources

The act of obtaining necessary materials, finances, or personnel needed to accomplish a goal or execute a project.

Fundamental Consequences

The basic or primary outcomes that result from certain actions or decisions.