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13 December, 08:14

ABC made a $15,000 sale on account with the following terms: 1/10, n/30. If ABC uses the gross method to record sales made on credit, what is/are the debit (s) in the journal entry to record the sale? a. Debit Accounts Receivable for $14,850. b. Debit Accounts Receivable for $14,850 and Sales Discounts for $150. c. Debit Accounts Receivable for $15,000. d. Debit Accounts Receivable for $15,000 and Sales Discounts for $150.

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  1. 13 December, 10:25
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    d. Debit Accounts Receivable for $15,000 and Sales Discounts for $150.

    Explanation:

    Because Gross Method record the invoice at full price and the discount applied separately.
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