Secret Trails received payment in full within the credit period for horse boarding for $900 plus 6% sales tax. Terms of the sale were 2/10, n/30. Which entry is required to record this payment?
A. Debit Cash $954; credit Sales $954
B. Debit Cash $936; credit Sales $936
C. Debit Cash $936; debit Sales Discount $18; credit Accounts Receivable $954
D. Debit Cash $900; credit Accounts Receivable Sales $900
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Secret Trails received payment in full within the credit period for horse boarding for $900 plus 6% sales tax. Terms of the sale were 2/10, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Identify the type of accounts that would appear on a firm's income statement
Answers (1)
Haulsee Inc. builds 800,000 golf carts a year and purchases the electronic motors for these carts for $370 each. Ordering costs are $540 and Haulsee's inventory carrying costs average 14% of the inventory value. What is the total inventory costs? a.
Answers (1)
American General Company experienced the following accounting events during 2014: 1. Paid $4,000 cash for salary expense. 2. Borrowed $8,000 cash from State Bank. 3. Received $30,000 cash from the issue of common stock. 4.
Answers (1)
What is another word for accountability?
Answers (2)
What idea did both the Regulators and Stamp Act Congress share? a. Colonial governors should make decisions unilaterally. b. Boycotts did not work as a means of protest. c. Colonists wanted to be represented in the government. d.
Answers (1)
New Questions in Business
Although Elton Mayo originally intended to collect data for a traditional scientific management study, his breakthrough research led to further research on the kinds of things that drive employees to successfully meet and exceed productivity goals
Answers (1)
If the 10-year Treasury bond rate is 5.3 % , the inflation premium is 2.8 % , and the maturity-risk premium on 10-year Treasury bonds is 0.
Answers (1)
It takes a total of 475 seconds for one technician to assemble one airrules smart phone, working alone.
Answers (1)
You would advise a client that's launching a new product line to advertise on the google display network because she can:
Answers (1)
Which statement is generally TRUE? Private markets overprovide public goods. Private markets underprovide public goods. Private markets provide the socially optimal amount of public good.
Answers (1)