Question

acc 340 AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to record sales made on credit, how much should be recorded as revenue

Answer 1

$24,750

Step-by-step explanation:

Calculation for how much should be recorded as revenue

Revenue=(100%-1%)*$25,000

Revenue=99%*$25,000

Revenue=$24,750

The amount that the company should record the REVENUE will be $24,750