Question: We want your input! Click here to submit your course evaluation of A company sold goods to B company on credit on 21 May 2020

 We want your input! Click here to submit your course evaluation

We want your input! Click here to submit your course evaluation of A company sold goods to B company on credit on 21 May 2020 for 54,000 on terms 37; 1/30. The AR (B) paid on 23 May 2020. The journal entry on 21 May 2020 should show a) Debit Cash $4,000 Credit AR (B) $4,000 b) Debit Cash $3,880 Debit Discount 5120 Credit AR (B) $4,000 Debit AR (B) $4,000 Credit Cash $4,000 d) No journal entry is required

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!