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Shor Question 3 View Policies Current Attempt in Progress Bramble Corp. made a $26200 sale on account with the foll...


Shor Question 3 View Policies Current Attempt in Progress Bramble Corp. made a $26200 sale on account with the following term
Shor Question 3 View Policies Current Attempt in Progress Bramble Corp. made a $26200 sale on account with the following terms: 3/10, 1/30. If the company uses the gross method to record sales made on credit what is are the debitis) in the journal entry to record the sale? Debit Accounts Receivable for $26200 and Sales Discounts for $786 Debit Accounts Receivable for $25414 Debit Accounts Receivable for $26200 Debit Accounts Receivable for $25414 and Sales Discounts for $786 Attempts: O of 1 used Save for Lite Submit Art
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The right option is 3rd - " Debit accounts receivable for $26,200".

As the accounts receivable are recorded using the gross method, therefore no discount will be recorded until and unless the payment is realized within the credit period. Therefore, accounts receivable will be debited for full amount of credit sales i.e. for $26,200.

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