The company provided services to a new customer worth $1,000. Because the customer was new the company granted the customer a 15% trade discount and the customer paid the correct amount in cash When recording services which is correct? O The company will record service revenue of $1,000. O The company will record a trade discount of $150. O The company will record cash of $1000. O The company will record cash of $850.

The company provided services to a new customer worth $1,000. Because the customer was new the company granted the customer a 15% trade discount and the customer paid the correct amount in cash When recording services which is correct? O The company will record service revenue of $1,000. O The company will record a trade discount of $150. O The company will record cash of $1000. O The company will record cash of $850.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 11MC: Your company paid rent of $1,000 for the month with check number 1245. Which journal would the...

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