The collection of a $900 account after the 2 percent discount period will result in a a. debit to Cash for $900. O b. debit to Cash for $882. O c. debit to Sales Discounts for $18. O d. debit to Accounts Receivable for $900.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is