The collection of an $800 account beyond the 2 percent discount period will result in a
A)debit to Cash for $784.
B)credit to Accounts Receivable for $800.
C)credit to Cash for $800.
D)debit to Sales Discounts for $16.

Question

Quizplus · Accepted Answer

The Answer of The collection of an $800 account beyond the 2 percent discount period will result in a
A)debit to Cash for $784.
B)credit to Accounts Receivable for $800.
C)credit to Cash for $800.
D)debit to Sales Discounts for $16.

The Collection of an $800 Account Beyond the 2 Percent