Sues jewelry sold 20 necklaces for 25 each to a credit, Accounting Basics

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Sues jewelry sold 20 necklaces for 25 each to a credit

1. Sue's Jewelry sold 20 necklaces for $25 each to a credit customer. The invoice included a 6% sales tax and payment terms of 2/10, n/30. Five necklaces were returned prior to payment. The entry to record the original sale would include a debit to A. Accounts Receivable for $530. B. Accounts Receivable for $500. C. Sales for $530. D. Sales for $500.

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Accounting Basics: Sues jewelry sold 20 necklaces for 25 each to a credit

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