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d. cash 12. The entry to record the sale of merchandise for cash includes a: a. debit to accounts receivable b. credit to sales discounts C. debit to sales revenue d. credit to sales revenue 13. A merchandiser received payment in full within the discount period on a P2,000 sales invoice, terms 2/15, n/30. The journal entry would include a: debit to cash for P2,000 credit to accounts receivable for P2,000 credit to accounts receivable for P2,040 d. a. b. C. credit to sales discounts for P40

d. cash 12. The entry to record the sale of merchandise for cash includes a: a. debit to accounts receivable b. credit to sales discounts C. debit to sales revenue d. credit to sales revenue 13. A merchandiser received payment in full within the discount period on a P2,000 sales invoice, terms 2/15, n/30. The journal entry would include a: debit to cash for P2,000 credit to accounts receivable for P2,000 credit to accounts receivable for P2,040 d. a. b. C. credit to sales discounts for P40

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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d. cash 12. The entry to record the sale of merchandise for cash includes a: a. debit to accounts receivable b. credit to sales discounts C. debit to sales revenue d. credit to sales revenue 13. A merchandiser received payment in full within the discount period on a P2,000 sales invoice, terms 2/15, n/30, The journal entry would include a: debit to cash for P2,000 credit to accounts receivable for P2,000 a. b. credit to accounts receivable for P2,040 d. credit to sales discounts for P40 C.
Transcribed Image Text:d. cash 12. The entry to record the sale of merchandise for cash includes a: a. debit to accounts receivable b. credit to sales discounts C. debit to sales revenue d. credit to sales revenue 13. A merchandiser received payment in full within the discount period on a P2,000 sales invoice, terms 2/15, n/30, The journal entry would include a: debit to cash for P2,000 credit to accounts receivable for P2,000 a. b. credit to accounts receivable for P2,040 d. credit to sales discounts for P40 C.
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