Geo Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of...
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Accounting
Geo Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of goods sold was $27,600. Which of the following journal entries will be recorded for the sale of merchandise?
a. Debit to Accounts Receivable, $34,300; credit to Sales, $34,300
b. Debit to Cash, $35,000; credit to Sales, $35,000
c. Debit to Accounts Receivable, $35,000; credit to Sales, $35,000
d. Debit to Cash, $34,300; credit to Sales, $34,300
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