Use This Information to Answer the Following Question $\$ 800$

question 123

Multiple Choice

Use this information to answer the following question. Chupka Company experienced the following events during the period:
1. A tabulation of invoices at the end of the day showed $\$ 800$ in MasterCard invoices, which were deposited in a bank account at full value less a 5 percent discount.

2. Made a sale on American Express card for $\$ 400$ and mailed invoice to American Express for payment. The discount charged by American Express is 4 percent. The entry to record transaction 1 would include an increase in

• A) Credit Card Expense for $40.
• B) Sales for $760.
• C) Cash for $800.
• D) Accounts Receivable for $760.

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Definitions:

Physiological Needs

The basic, essential life needs such as food, water, and shelter that must be met in order for an individual to survive and function properly.

Safety Needs

The second level in Maslow's hierarchy of needs, encompassing the human desire for security, safety, and physical well-being.

Managerial Ethics

Principles and standards that guide behavior in the world of business, including fairness, honesty, and integrity.

Corporate Social Responsibility

The concept that businesses should be accountable for their impact on society and the environment, going beyond profit-making to ethical, social, and ecological concerns.