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Central Company sold goods for $5,000 to Western Company on March 12 on credit. Terms of the sale were 2/10, n/30. At the time of the sale, Central recorded the transaction by debiting Accounts Receivable for $5,000 and crediting Sales Revenue for $5,000. Western paid the balance due on April 9. To record the April 9 transaction, Central would debit

a. Cash for $4,900.

b. Accounts Receivable for $5,000.

c. Cash for $5,000.

d. Sales discounts for $100.

e. None of the above is correct.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M996686

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