Griffin Ltd Made a Sale of $800 to a Customer

question 20

Multiple Choice

Griffin Ltd made a sale of $800 to a customer on terms of 2/10,n/30 on 1 July.The account was paid on 8 July.Griffin Ltd would make which of the following postings to the ledger on 8 July?

• A) Dr Discount expense $16
• B) Dr Accounts receivable $800
• C) Cr Discount revenue $16
• D) Cr Discount expense $16

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Definitions:

Mezzo

This term refers to the mid-level practice in social work that focuses on small groups and community interventions.

Macro Levels

Pertains to large-scale social processes, institutions, and structures that transcend individual perspectives and experiences.

Macro-Level

Pertaining to the broadest context in social science analyses, focusing on societal structures, institutional frameworks, and population-level processes.

Social Planning

The process of formulating and implementing policies and programs to meet societal needs and improve community welfare and integration.