Maxie\'s Game World sold games to a customer on credit for $4,500, terms 2/10, n

Question

Maxie's Game World sold games to a customer on credit for $4,500, terms 2/10, n/30 and the cost of the games was $3,600. When recording the collection from the customer made within the discount period, in its cash receipts journal, Maxie's would enter Multiple Choice 51 $4.500 in the Cash Dr. column and $4,500 in the Accounts Receivable Cr. column $4.410 in the Cash Dr column and $4,410 in the Accounts Receivable Cr. column $4.410 in the Cash Dr column. $90 in the Sales Discount Dr column and $4500 in the Accounts Receivable Ct column $4,500 in the Accounts Receivable Dr/Sales Cr. column and $4,500 in the Cash Cr column ? ype here to search

Explanation / Answer

Journal entry :

so answer is c)

Date accounts & explanation debit credit Cash (4500*98%) 4410 Sales discount 90       Account receivable 4500 (To record collection)

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