Proffitts, Inc. earned 5,500 in revenues of which 300 has not ...

[sammy]

Proffitts, Inc. earned 5,500 in revenues of which 300 has not been collected. The journal entry to record this transaction includes ________.
 
  A) a debit to Cash of 5,200 and a credit to Revenues of 5,200
  B) debits to Cash of 5,200 and Accounts receivable of 300 and a credit to Revenues of 5,500
  C) a debit to Revenues of 5,200 and a credit to Cash of 5,200
  D) a debit to Revenues of 5,500 and credits to Cash of 5,200 and Accounts receivable of 300

Question 2

Merchandise is sold for 3,600, terms FOB destination, 2/10, n/30, with prepaid freight costs of 150 . The amount of the sales recorded is 3,528.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[maya.nigrin17@yahoo.com]

Answer to Question 1

B

Answer to Question 2

True

[sammy]

TYSM

[at]

Excellent