Merchandise with a sales price of $10,600 is sold on account with terms 2/10, n/30....
60.1K
Verified Solution
Link Copied!
Question
Accounting
Merchandise with a sales price of $10,600 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a O Debit to Accounts Receivable for $10,600 Debit to Customer Refunds Payable for $212 Credit to Sales for $10,388 Debit to Cash for $10,600
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
