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What transaction increased the cash account by

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Problem 1: On March 1, 2020, Altair Company sold merchandise to Jesse for ?50,000 less 10 on terms 25% down and the balance 2/10 n/30. In Altair's books, this transaction increased the Cash account by

a. ?50,000
b. ?11,250
c. ?45,000
d. ?12,500

Problem 2: Ella Company bought merchandise on June 10, 2020 for ?6,650 on terms 2/10 n/30. Ella made a partial payment of ?2,000 on June 15 and finally settled its account on June 20. Ella is using special journals together with the general journal. In Ella's books, the journal entry to record the June 20, 2020 transaction involves a credit to Purchase Discount for

a. ?93 in the purchases journal
b. ?133 in the cash payments journal
c. ?93 in the cash payments journal
d. ?133 in the purchases journal

Reference no: EM132830095

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