If Abby, Inc. sells items to a customer who uses a credit card for $1,200, and there
Question:
A. debit to Credit Card Discount Expense for $42.
B. credit to Sales Revenue for $1,158.
C. debit to Accounts Receivable for $1,158.
D. debit to Sales Expense for $42.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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B credit to Sales Revenue fo...View the full answer
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Related Book For 
Fundamentals of Financial Management
ISBN: 978-0324597707
12th edition
Authors: Eugene F. Brigham, Joel F. Houston
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