On June 3,Win-Tel Company Sold Merchandize Worth $800 on Credit,terms $\begin{array}{lc}\text { Accounts Receivable } & 784 \\\text { Sales Discounts } & 16 \\\text { Cash } &&800\end{array}$

question 6

Multiple Choice

On June 3,Win-Tel Company sold merchandize worth $800 on credit,terms 2/10,n/30.The merchandize sold had cost $550.The customer paid the amount on June 15. What is the required journal entry to record the payment received under the periodic inventory system?

• A)
• \(\begin{array}{lc}
• \text { Accounts Receivable } & 784 \\
• \text { Sales Discounts } & 16 \\
• \text { Cash } &&800
• \end{array}\)
• B)
• \(\begin{array}{ll}
• \begin{array}{c}
• \text { Accounts Receivable } & 800\\
• \text { Cash } && 800
• \end{array} \\
• \end{array}\)
• C)
• \(\begin{array}{lr}
• \text { Cash } & 784 \\
• \text { Sales Discounts } & 16 \\
• \text { Accounts Receivable } &&800
• \end{array}\)
• D)
• \(\begin{array}{ll}
• \text { Cash } & 800 \\
• \text { Accounts Receivable } && 800
• \end{array}\)

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