Question

A received payment within the discount period for previously merchandise sold will be recorded with a __________.

A. credit to an asset account
B. debit to a liability account
C. debit to Capital
D. none of the above

Answer 1

The correct answer to the question is letter A. Credit to an asset account.

Answer 2

D. None of the above
Because
The amount of discount recorded as expenses in income statement and the merchandise sold recorded as revenue