A company sells merchandise on November 2 at a $4,000 invoice price with terms of 2/10, n/30. The goods cost $2,000. The company uses the net method to record invoices. The customer pays the balance due on November 30. 

Complete the journal entry to record the receipt of cash from the customer by selecting the account names from the drop-down menus and the amounts in the Debit and Credit columns.

Answer rating: 100% (QA)

Here is the journal entry to record the receipt of cash from the customer Account Debit Credit ... View the full answer