Which of the Following Is Recorded Upon Receipt of a Payment

question 45

Multiple Choice

Which of the following is recorded upon receipt of a payment on April 7,2015,by a customer who pays a $900 invoice dated March 3,2015,with terms 2/10,n/60?

• A)Debit Sales Discounts $18.
• B)Credit Purchase Discounts $18.
• C)Credit Accounts Receivable $882.
• D)Debit Cash $900.

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Definitions:

Customized Wedding Gowns

Bespoke bridal dresses that are tailored or specifically designed to meet the personal preferences and measurements of the bride.

Overhead Application Rate

A rate used to allocate indirect costs to products or job orders based on a predetermined formula.

Ethical Decision

A decision-making process that involves considering what is right and fair according to moral principles before taking action.

Stakeholders

Individuals, groups, or organizations that have an interest or concern in the operations and decisions of a business.