On November 1, 2022, Lake Clinic provided services to a customer on account for $3,000 with discount terms (credit terms) 2/10, n/30. Assume the customer pays the clinic the correct amount on November 29, 2022. What journal entry should the clinic make to record the collection of cash on November 29, 2022? Multiple Choice Account Cash Accounts Receivable Account Accounts Receivable Cash Account Cash Accounts Receivable Account Cash Sales Discounts Accounts Receivable Debit Debit Debit Debit 3,000 3,000 2,940 2,940 60 Credit 3,000 Credit 3,000 Credit 2,940 Credit 3,000

On November 1, 2022, Lake Clinic provided services to a customer on account for $3,000 with discount terms (credit terms) 2/10, n/30. Assume the customer pays the clinic the correct amount on November 29, 2022. What journal entry should the clinic make to record the collection of cash on November 29, 2022? Multiple Choice Account Cash Accounts Receivable Account Accounts Receivable Cash Account Cash Accounts Receivable Account Cash Sales Discounts Accounts Receivable Debit Debit Debit Debit 3,000 3,000 2,940 2,940 60 Credit 3,000 Credit 3,000 Credit 2,940 Credit 3,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Question 25 Case studies are usually descriptive in nature. O True O False
Why woul it not be Schedule B
What is the difference between a Form 10–K and a Form 10–Q?
6. __________ entail the creation of a third-party legal entity, whereas __________ do not.
I asked for S5-6
Select one:a.(iii) and (iv) onlyb.(ii) and (iii) onlyc.(i) and (ii) onlyd.All four
What information is included in Form 10-K?
Could you please answer question 4 and 5?
7-3 A
Num.10
6 The main difference between US GAAP and IFRS is?