Lee Enterprises received payment within the discount period from a customer who had purchased merchandise on account.
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Question:
Lee Enterprises received payment within the discount period from a customer who had purchased merchandise on account. The sales invoice was for $2,000, and credit terms were 3/15 n/30. In the cash receipts journal, $1,940 will appear under the:
A) sales revenue credit column.
B) accounts receivable credit column.
C) cash debit column.
D) cash credit column.
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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