On February 3, Smart Company sold merchandise in the amount of $4,900 connot m E

Question

On February 3, Smart Company sold merchandise in the amount of $4,900 connot m Exam (ch 166 Help Save& ExitSuomt MC Qu. 122 On February 3, Smart Company. On February 3, Smat Company sold merchandise in the amount of $4,900 to Truman Company, with credn terms of 3/1o, nio. The cost of the tems solo $3,380 Smart uses the perpetual Inventory system and the goss method Truman pays the inwoice on February R, and takes the appropnuate dscount The yournal entry thal Smart makes on February 8 s Munpie Choc NM

Explanation / Answer

Cash 4753 Sales Disounts 147        Accounts Receivable 4900

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