Question: Could you please tell me whats the difference between gross method and net method and how to calculate it? Thanks a lot. 95. AG Inc.

Could you please tell me whats the difference between gross method and net method and how to calculate it? Thanks a lot.

95. AG Inc. made a 10,000 sale on account with the following terms: 1/15, n/30. If the company 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 9,900 b. Debit Accounts Receivable for 9,900 and Sales Discounts for 100 c. Debit Accounts Receivable for 10,000 d. Debit Accounts Receivable for 10,000 and Sales Discounts for 100 96. AG Inc. made a 10,000 sale on account with the following terms: 2/10, n/30. If the company uses the net 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 9,800 b. Debit Accounts Receivable for 9,800 and Sales Discounts for 200 c. Debit Accounts Receivable for 10,000 d. Debit Accounts Receivable for 10,000 and Sales Discounts for 200

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