On February Smart Company sold merchandise in the amount of $ to Kennedy Company, with credit terms of The cost of the items sold is $ Smart uses the perpetual inventory system and the gross method. Kennedy pays the invoice on February and takes the appropriate discount. The journal entry that Smart makes on February is:
Multiple Choice
tableAccount Title,Debit,CreditCashAccounts Receivable,,
tableAccount Title,Debit,CreditCashSales discounts,Accounts Receivable,,
