Geo Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of goods sold

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Geo Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of goods sold was $27,600. Which of the following journal entries will be recorded for the sale of merchandise?

a. Debit to Accounts Receivable, $34,300; credit to Sales, $34,300

b. Debit to Cash, $35,000; credit to Sales, $35,000

c. Debit to Accounts Receivable, $35,000; credit to Sales, $35,000

d. Debit to Cash, $34,300; credit to Sales, $34,300

Related Book For answer-question

Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Jan 14, 2022 06:56 AM

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Geo Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of goods sold

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Accounting Principles

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