Sales revenues are usually considered earned when

Select answer from the options below

adjusting entries are made.

A company sells an item on account with credit terms of $2/10,$ n$/20.$ What is the meaning of these terms?

Select answer from the options below

An additional amount equal to $2$ percent of the invoice price must be paid if payment is not received within $10$ days; the account is overdue after $20$ days.

A $10$ percent cash discount may be taken if payment is made within $2$ days of the invoice date; otherwise the full amount is due in $20$ days.

Riverbed$$Supply Company sells merchandise on account for $$2000$to$$Carla Vista$$Retail Company with credit terms of $2/8,$ n$/30.$Carla Vista$$Retail Company returns $$600$of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does$$Riverbed$$Supply Company make upon receipt of the check?