On October 1,Robertson Company Sold Merchandise in the Amount of $5,800

question 15

Multiple Choice

On October 1,Robertson Company sold merchandise in the amount of $5,800 to Alberts,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Robertson uses the periodic inventory system.Alberts pays the invoice on October 8 and takes the appropriate discount.The journal entry that Robertson makes on October 8 is:

• A)
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 5,800 & \\
• \hline \text { Accounts receivable } & & 5,800 \\
• \hline
• \end{array}\)
• B)
• \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 4,000 & \\
• \hline \text { Accounts receivable } & & 4,000 \\
• \hline
• \end{array}\)
• C)
• \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 3,920 & \\
• \hline \text { Sales discounts } & 80 & \\
• \hline \text { Accounts receivable } & & 4,000 \\
• \hline
• \end{array}\]
• D)
• \[\begin{array} { |l | r | r | }
• \hline \text { Cash } & 5,684 & \\
• \hline \text { Accounts receivable } & & 5,684 \\
• \hline
• \end{array}\]
• E)
• \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 5,684 & \\
• \hline \text { Sales discounts } & 116 & \\
• \hline \text { Accounts receivable } & & 5,800 \\
• \hline
• \end{array}\]

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture.

Ethnocentrism

The belief in the superiority of one's own ethnic group or culture, often accompanied by a dismissal of other cultures.

Edward T. Hall

An American anthropologist known for his work in the field of intercultural communication and proxemics.

Behavior Pattern

Regularly observed actions or reactions that characterize an individual's or group's consistent responses under certain conditions or stimuli.