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Which is part of the journal entry made by wildhorse retail

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Problem 1: Wildhorse Retail sold merchandise for $800 subject to credit terms of 2/10, n/30. Which one of the following is part of the journal entry made by Wildhorse Retail to record the collection in full within the discount period in a perpetual inventory system?

Option 1: Credit to Accounts Receivable for $816
Option 2: Credit to Inventory for $16
Option 3: Debit to Cash for $816
Option 4: Debit to Sales Discounts for $1616

Reference no: EM132946450

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