The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit to O Accounts Receivable for $4000. O Sales Discounts for $80. O Cash for $3920. O Sales Revenue for $4000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit
to
O Accounts Receivable for $4000.
O Sales Discounts for $80.
O Cash for $3920.
O Sales Revenue for $4000.
Transcribed Image Text:The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit to O Accounts Receivable for $4000. O Sales Discounts for $80. O Cash for $3920. O Sales Revenue for $4000.
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