A Tabulation of Invoices at the End of the Day

question 54

Multiple Choice

A tabulation of invoices at the end of the day showed $1,600 in MasterCard invoices,which were deposited into a bank account at full value,less a 5 percent discount.The entry to record the above events would include an increase in

• A)Accounts Receivable for $1,520.
• B)Cash for $1,600.
• C)Sales for $1,520.
• D)Credit Card Expense for $80.

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Definitions:

Coronary Heart Disease

A condition characterized by reduced blood flow to the heart muscle due to the build-up of plaque in the coronary arteries, leading to heart attacks and chest pain.

High Blood Pressure

A condition where the force of the blood against the artery walls is too high, often leading to health problems.

Type B Personality

A personality type characterized by a more relaxed, less time-urgent, and less competitive approach to life compared to Type A personality.

Spontaneous Remission

The unexpected improvement or cure of a disease or condition that occurs without medical treatment.