Alpha Corporation sells $2799 of merchandise on account to Blackwell Company with credit terms of 3 /10,n/30. If Blackwell Company remits a check taking advantage of the discount offered, what is the amount of thecheck?O a. $2883O b. $2799O c. $2715O d. $84 The journal entry to record the receipt of a payment from customer within the discount period on a sale of$2325 with terms of 3/10, n/30 will include a credit toO a. Sales discounts for $70O b. Accounts receivable for $2325O c. Sales Revenue for $2325O d. Cash for $2255

Payments terms of 3/10, n/30 means discount of 3% on goods is valid for 10 days from the date of…

Alpha Corporation sells $2799 of merchandise on account to Blackwell Company with credit terms of 3 /10, n/30. If Blackwell Company remits a check taking advantage of the discount offered, what is the amount of the check? O a. $2883 O b. $2799 O c. $2715 O d. $84

Alpha Corporation sells $2799 of merchandise on account to Blackwell Company with credit terms of 3 /10, n/30. If Blackwell Company remits a check taking advantage of the discount offered, what is the amount of the check? O a. $2883 O b. $2799 O c. $2715 O d. $84

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Alpha Corporation sells $2799 of merchandise on account to Blackwell Company with credit terms of 3 /10,
n/30. If Blackwell Company remits a check taking advantage of the discount offered, what is the amount of the
check?
O a. $2883
O b. $2799
O c. $2715
O d. $84

The journal entry to record the receipt of a payment from customer within the discount period on a sale of
$2325 with terms of 3/10, n/30 will include a credit to
O a. Sales discounts for $70
O b. Accounts receivable for $2325
O c. Sales Revenue for $2325
O d. Cash for $2255

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