A merchandiser received payment in full within the discount period on a $5,000 sales invoice, terms 2/15 n/30. The journal entry would include a:
A)debit to Cash for $5,000.
B)credit to Accounts Receivable for $5,000.
C)credit to Accounts Receivable for $4,900.
D)credit to Sales Discounts for $100.

Question

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The Answer of A merchandiser received payment in full within the discount period on a $5,000 sales invoice, terms 2/15 n/30. The journal entry would include a:
A)debit to Cash for $5,000.
B)credit to Accounts Receivable for $5,000.
C)credit to Accounts Receivable for $4,900.
D)credit to Sales Discounts for $100.

A Merchandiser Received Payment in Full Within the Discount Period