A journal entry with a debit to cash of $980, a debit to sales discounts of $20,
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Question:
A journal entry with a debit to cash of $980, a debit to sales discounts of $20, and a credit to Accounts Receivable of $1000 means that a customer had taken a 10% cash discount for early payment.
True
False
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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