Help with accounting

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Heidi’s Accessories bought 50 necklaces for $10 each on account. The invoice included a 6% sales tax and payment terms of 2/10, n/30. Five necklaces were returned prior to payment. The entry to record the payment (within the discount period) would include a credit to
A. Cash for $477. B. Cash for $468.C. Accounts Receivable for $477.
 

Apr 26th, 2015

the correct entry is to credit the Accounts Receivable with  $477

the answer is C

Accounts Receivable for $477.

Apr 26th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Apr 26th, 2015
...
Apr 26th, 2015
Jun 23rd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer