Barton Health Services provided care to a patient worth $1,200. Because the patient was over the age of 65, Barton granted the patient a 20% discount and the customer paid the correct amount in cash. How would Barton record the service transaction? A. Cash 960 Service Revenue 960 B. Cash 960 Trade Discount 240 Service Revenue 1,200 C. Cash 1,200 Service Revenue 1,200 D. Cash 1,200 Trade Discount 240 Service Revenue 960
Barton Health Services provided care to a patient worth $1,200. Because the patient was over the age of 65, Barton granted the patient a 20% discount and the customer paid the correct amount in cash. How would Barton record the service transaction? A. Cash 960 Service Revenue 960 B. Cash 960 Trade Discount 240 Service Revenue 1,200 C. Cash 1,200 Service Revenue 1,200 D. Cash 1,200 Trade Discount 240 Service Revenue 960
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Barton Health Services provided care to a patient worth $1,200. Because the patient was over the age of 65, Barton granted the patient a 20% discount and the customer paid the correct amount in cash. How would Barton record the service transaction?
| A. | Cash | 960 | |
| Service Revenue | 960 | ||
| B. | Cash | 960 | |
| Trade Discount | 240 | ||
| Service Revenue | 1,200 | ||
| C. | Cash | 1,200 | |
| Service Revenue | 1,200 | ||
| D. | Cash | 1,200 | |
| Trade Discount | 240 | ||
| Service Revenue | 960 |
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