Question

ABC made a $15,000 sale on account with the following terms: 1/10, n/30. If ABC uses the gross method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale?a. Debit Accounts Receivable for $14,850.b. Debit Accounts Receivable for $14,850 and Sales Discounts for $150.c. Debit Accounts Receivable for $15,000.d. Debit Accounts Receivable for $15,000 and Sales Discounts for $150.

Answer 1

d. Debit Accounts Receivable for $15,000 and Sales Discounts for $150.

Step-by-step explanation:

Because Gross Method record the invoice at full price and the discount applied separately.