On December 1,Macy Company Sold Merchandise with a Selling Price

question 77

Multiple Choice

On December 1,Macy Company sold merchandise with a selling price of $3,000 on account to Mrs.Jorgensen,with terms 1/10,n/30.Using the gross method and ignoring cost of goods sold,what journal entry did Macy Company prepare on December 1? Macy expects no sales returns.

• A)Debit Cash for $3,000 and credit Accounts Receivable for $3,000.
• B)Debit Accounts Receivable for $2,970 and credit Cash for $2,970.
• C)Debit Accounts Receivable for $2,970 and credit Sales Revenue for $2,970.
• D)Debit Accounts Receivable for $3,000 and and credit Sales Revenue for $3,000.

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