The collection of a $2,000 account within the 2 percent discount period will result in a
A) debit to Sales Discounts for $40.
B) debit to Accounts Receivable for $1,960.
C) credit to Cash for $1,960.
D) credit to Accounts Receivable for $1,960.

Question

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The Answer of The collection of a $2,000 account within the 2 percent discount period will result in a
A) debit to Sales Discounts for $40.
B) debit to Accounts Receivable for $1,960.
C) credit to Cash for $1,960.
D) credit to Accounts Receivable for $1,960.

The Collection of a $2,000 Account Within the 2 Percent