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

question 40

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 2 would include a(n)

• A) increase in Accounts Receivable for $400.
• B) increase in Sales for $400.
• C) decrease in Credit Card Expense for $16.
• D) decrease in Cash for $384.

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Definitions:

Fire Protection

Measures and services designed to prevent, control, and mitigate the impact of fires, including emergency response and fire safety regulations.

Provision Of Education

The process or manner in which education is supplied or made available to a population, encompassing both public and private means.

Personal Benefits

Financial or non-financial gains received by individuals, often from employment, investments, or social security.

Government Provision

The act of supplying or making available goods, services, or benefits to the public by the government, often and typically funded through taxpayer money.