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What the journal entry to record in classic books

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Problem 1: On March 1, Classic Company sold ?18,000 of merchandise to a customer with credit terms of 2/10, n/30. On March 3, the customer returned ?5,000 of the merchandise due to poor quality. If the customer pays the account in full on March 11, the journal entry to record this in Classic's books under the gross method includes a debit to Cash for

a. ?17,640 and a credit to Accounts Receivable for ?17,640
b. ?12,740 and a debit to Sales Discount for ?260
c. ?12,740 and a credit to Sales Discount for ?260
d. ?17,640 and a credit to Sales for ?17,640

Reference no: EM132831158

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